M&A Deal Summary

Hellman & Friedman, HgCapital and Silver Lake Acquire TeamSystem

On December 7, 2015, private equity firms Hellman & Friedman, HgCapital and Silver Lake acquired software company TeamSystem from HgCapital, Bain Capital Private Equity and Intermediate Capital Group

Acquisition Highlights
  • This is Hellman & Friedman’s 10th, HgCapital’s 19th and Silver Lake’s 14th transaction in the Software sector.
  • This is Hellman & Friedman’s 1st, HgCapital’s 3rd and Silver Lake’s 1st transaction in Italy.

M&A Deal Summary

Date 2015-12-07
Target TeamSystem
Sector Software
Buyer(s) Hellman & Friedman
HgCapital
Silver Lake
Sellers(s) HgCapital
Bain Capital Private Equity
Intermediate Capital Group
Deal Type Secondary Buyout

Target

TeamSystem

Pesaro, Italy
TeamSystem is a provider of accounting, payroll, and business management software for accountants and small and medium-sized enterprises. TeamSystem offers a broad range of mission-critical, on-premise and cloud solutions to a diversified base of its customers. TeamSystem was founded in 1979 and is based in Pesaro, Italy.

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Buyer(S) 3

Buyer

Hellman & Friedman

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 115.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Hellman & Friedman is a large private equity firm on the West Coast of the US. H&F focuses on control and minority investments in a variety of transaction structures and will consider opportunities across the US and Europe. H&F seeks buyouts and business in need of restructurings that operate in defensible markets with predictable revenue and earnings growth. Target sectors include financial services, healthcare, indusrial, energy, insurance, media, marketing, professional services, software, and information services. H&F's target equity investment size is $300 million to $1 billion. Hellman & Friedman was formed in 1984 and has offices in San Francisco, New York City, and London.


DEAL STATS #
Overall 63 of 90
Sector: Software M&A 10 of 12
Type: Secondary Buyout M&A Deals 19 of 27
Country: Italy M&A 1 of 2
Year: 2015 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-28 Hostelworld

Dublin, Ireland

Hostelworld provides online bookings and reservations technology for the budget, independent, and youth travel sectors worldwide, through its boo.com, hostelworld.com, and hostels.com brands. Hostelworld was founded in 1999 and is headquartered in Dublin, Ireland.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-28 CARPROOF

London, Ontario, Canada

CARPROOF Corp. is a provider of automotive vehicle history reports to dealers, auto auctions, original equipment manufacturers, lenders, insurers, governments, law enforcement agencies and consumers.

Sell CA$650M
Buyer

HgCapital

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 70.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HgCapital is a European private equity firm focused on a wide range of transactions including public-to-private leveraged buy-outs, management buy-ins, divestitures, and turnarounds. Broad sectors of interest include consumer and leisure, healthcare, industrials, services, technology, media, and renewable energy. The Firm will consider both majority and minority investment positions. HgCapital is the successor to Mercury Capital Partners, a former unit of Merill Lynch which was spun out by management in 2000. HgCapital has offices in London and Munich.


DEAL STATS #
Overall 81 of 153
Sector: Software M&A 19 of 48
Type: Secondary Buyout M&A Deals 24 of 51
Country: Italy M&A 3 of 4
Year: 2015 M&A 7 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-30 EidosMedia

Milan, Italy

EidosMedia is a Content Management System (CMS) solutions company that develops innovative content management solutions to serve clients with high-value content and complex workflow management needs. Its software covers the end-to-end content lifecycle for very large media, financial research, academic, and public research, and corporate organizations. EidosMedia was formed in 1999 and is based in Milan, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-22 Zitcom A/S

Skanderborg, Denmark

Zitcom A/S is a provider of hosting and cloud solutions provider. Zitcom A/S was founded in 2000 and is based in Skanderborg, Denmark.

Buy -
Buyer

Silver Lake

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 104.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Silver Lake is a mega-sized private equity firm focused on a broad range of growth investments in and acquisitions of technology companies. Silver Lake is subdivided into several investing groups including Silver Lake Partners, Silver Lake Sumeru, Silver Lake Waterman, Silver Lake Alpine, and Silver Lake Kraftwerk. Silver Lake Partners pursues large-scale private investments in companies within the technology, tech-enabled and related growth industries. Silver Lake Sumeru invests in middle market technology companies with established business models and attractive growth prospects where there is an opportunity to create value through operational transformation. Silver Lake Waterman provides growth capital to later-stage companies in the technology and technology-enabled industries, offering flexible solutions to finance expansion and acquisitions. Silver Lake Alpine is Silver Lake's debt and credit investing arm. Silver Lake Kraftwerk provides growth capital to technology and tech-enabled businesses driving efficiency across the operations, energy, and resources industries. Silver Lake Partners was formed in 1999 is headquartered in Menlo Park, California.


DEAL STATS #
Overall 77 of 136
Sector: Software M&A 14 of 27
Type: Secondary Buyout M&A Deals 10 of 20
Country: Italy M&A 1 of 2
Year: 2015 M&A 11 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-02 RAC

Walsall, United Kingdom

RAC is an motoring organization offers roadside assistance to around 8.6 million members if their vehicles suffer a mechanical failure, fixing 80% of issues at the roadside. If the issue can’t be resolved then members will be offered a tow to a destination of the member’s choice. RAC is also an insurance broker, offering car, home, motorcycle and van and other specialist insurance using a panel of third-party underwriters to roadside members and non-members. RAC was founded in 1897 and is based in Walsall, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-21 GLG

New York, New York, United States

GLG is a global information platform that provides insights for leading knowledge professionals. Business leaders, investors, consultants, social entrepreneurs, and other top professionals rely on GLG to learn in short- and long-term engagements from more than 425,000 members and other experts. GLG was founded in 1998 and is based in New York, New York.

Sell $212M

Seller(S) 3

SELLER

HgCapital

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 70.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HgCapital is a European private equity firm focused on a wide range of transactions including public-to-private leveraged buy-outs, management buy-ins, divestitures, and turnarounds. Broad sectors of interest include consumer and leisure, healthcare, industrials, services, technology, media, and renewable energy. The Firm will consider both majority and minority investment positions. HgCapital is the successor to Mercury Capital Partners, a former unit of Merill Lynch which was spun out by management in 2000. HgCapital has offices in London and Munich.


DEAL STATS #
Overall 47 of 97
Sector: Software M&A 8 of 24
Type: Secondary Buyout M&A Deals 17 of 36
Country: Italy M&A 1 of 3
Year: 2015 M&A 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-30 EidosMedia

Milan, Italy

EidosMedia is a Content Management System (CMS) solutions company that develops innovative content management solutions to serve clients with high-value content and complex workflow management needs. Its software covers the end-to-end content lifecycle for very large media, financial research, academic, and public research, and corporate organizations. EidosMedia was formed in 1999 and is based in Milan, Italy.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-22 Zitcom A/S

Skanderborg, Denmark

Zitcom A/S is a provider of hosting and cloud solutions provider. Zitcom A/S was founded in 2000 and is based in Skanderborg, Denmark.

Buy -
SELLER

Bain Capital Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bain Capital Private Equity (BCPE), is the private equity investment arm of alternative asset management firm, Bain Capital. BCPE targets leveraged buyout and growth capital transactions in a wide variety of industries including information technology, communications, media, healthcare, industrial/manufacturing, retail/consumer, and financial services. Bain Capital is based in Boston with additional offices in New York, London, Mumbai, Hong Kong, Shanghai, Tokyo, and Munich.


DEAL STATS #
Overall 76 of 152
Sector: Software M&A 4 of 11
Type: Secondary Buyout M&A Deals 19 of 33
Country: Italy M&A 3 of 6
Year: 2015 M&A 11 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-20 Bellsystem24

Tokyo, Japan

Bellsystem24 provides marketing and customer service solutions to its clients through a nationwide network of contact centers in Japan. Bellsystem24 was founded in 1982 and is headquartered in Tokyo, Japan.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-21 Big Tex Trailer Manufacturing

Mt. Pleasant, Texas, United States

Big Tex Trailer Manufacturing is a manufacturer of professional-grade trailers, parts and supplies. Big Tex sells its family of leading trailer brands, including Big Tex Trailers, CM/S&H Trailers, Circle J and CM Truck Beds, through a diversified network of over 400 dealers nationwide. Big Tex Trailer Manufacturing was founded in 1982 and is based in Mt. Pleasant, Texas.

Buy -
SELLER

Intermediate Capital Group

London, United Kingdom

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 74.5B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Intermediate Capital Group (ICG) is a global mezzanine finance firm. IGC looks to provide junior capital to support a wide range of transactions, including buyouts, debt restructurings, and development financing. The Firm generally invests alongside financial sponsors and management teams in transactions valued from €250 million to €1 billion. ICG was formed in 1989 and is headquartered in London.


DEAL STATS #
Overall 165 of 225
Sector: Software M&A 4 of 6
Type: Secondary Buyout M&A Deals 60 of 86
Country: Italy M&A 4 of 7
Year: 2015 M&A 12 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-05 Evoca

Milan, Italy

Evoca is a manufacturer of Hot & Cold and Snack & Food vending machines. Evoca was founded in 2000 and is based in Milan, Italy.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-01 Moniteur

Saint-Denis, France

Moniteur is an information provider for construction and local authority sectors in France, providing quality and value added content (via 25 publications), classified and display advertising, online services (via 30 websites), databases, exhibitions and training courses. Moniteur was founded in 1903 and is based in Saint-Denis, France.

Sell -