M&A Deal Summary

HgCapital, Bain Capital Private Equity and ICG Acquire TeamSystem

On August 3, 2010, private equity firm HgCapital, private equity firm Bain Capital Private Equity and mezzanine finance firm ICG acquired software company TeamSystem from Bain Capital Private Equity and ICG for 565M EUR

Acquisition Highlights
  • This is HgCapital’s 6th, Bain Capital Private Equity’s 3rd and ICG’s 5th transaction in the Software sector.
  • This is HgCapital’s 7th, Bain Capital Private Equity’s 61st and ICG’s 32nd largest (disclosed) transaction.
  • This is HgCapital’s 1st, Bain Capital Private Equity’s 3rd and ICG’s 5th transaction in Italy.
Investment Fate
  • TeamSystem was sold to a consortium of financial buyers in 2015.

M&A Deal Summary

Date 2010-08-03
Target TeamSystem
Sector Software
Buyer(s) HgCapital
Bain Capital Private Equity
ICG
Sellers(s) Bain Capital Private Equity
ICG
Deal Type Secondary Buyout
Deal Value 565M EUR

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

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 52 of 153
Sector: Software M&A 6 of 48
Type: Secondary Buyout M&A Deals 12 of 51
Country: Italy M&A 1 of 4
Year: 2010 M&A 7 of 8
Size (of disclosed) 7 of 32
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-30 Teufel

Berlin, Germany

Teufel is a designer and online retailer of loudspeaker systems. It designs, markets and sells its own brand audio speaker systems like home theatre, multimedia, integrated systems. Teufel was founded in 1979 and is based in Berlin, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-25 Visma

Oslo, Norway

Visma offers software and services that simplify and digitize core business processes in the private and public sectors. Visma was founded in 1985 and is based in Oslo, Norway.

Sell Nkr11.0B
Buyer

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 80 of 253
Sector: Software M&A 3 of 18
Type: Secondary Buyout M&A Deals 10 of 76
Country: Italy M&A 3 of 12
Year: 2010 M&A 7 of 11
Size (of disclosed) 61 of 75
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-28 Diadexus

South San Francisco, California, United States

Diadexus, Inc. is a privately held diagnostics company. It focused on the development and commercialization of patent-protected in vitro diagnostic products addressing unmet needs in cardiovascular disease.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-06 NXP Semiconductors

Eindhoven, Netherlands

NXP Semiconductors is a provider of semiconductors, system solutions and software that deliver better sensory experiences in mobile phones, personal media players, TVs, set-top boxes, identification applications, cars and a wide range of other electronic devices. NXP Semiconductors was founded in 2006 and is based in Eindhoven, Netherlands.

Sell -
Buyer

ICG

London, United Kingdom

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 33.4B 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 225 of 294
Sector: Software M&A 5 of 8
Type: Secondary Buyout M&A Deals 69 of 115
Country: Italy M&A 5 of 10
Year: 2010 M&A 4 of 4
Size (of disclosed) 32 of 82
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-01 Fort Dearborn

Elk Grove, Illinois, United States

Fort Dearborn is a supplier of high-impact decorative labels for the beverage, food, household products, paint and coatings, personal care, private label/retail, and spirits markets. Fort Dearborn is headquartered in Elk Grove, Illinois.

Buy $520M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-09 Helicon Cable Holdings

Rye Brook, New York, United States

Helicon Cable (also known as Jetbroadband) is a cable system operator that is predominately focused on rural areas in the eastern United Sates.

Sell $148M

Seller(S) 2

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 31 of 152
Sector: Software M&A 1 of 11
Type: Secondary Buyout M&A Deals 10 of 33
Country: Italy M&A 1 of 6
Year: 2010 M&A 3 of 5
Size (of disclosed) 33 of 45
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-28 Diadexus

South San Francisco, California, United States

Diadexus, Inc. is a privately held diagnostics company. It focused on the development and commercialization of patent-protected in vitro diagnostic products addressing unmet needs in cardiovascular disease.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-06 NXP Semiconductors

Eindhoven, Netherlands

NXP Semiconductors is a provider of semiconductors, system solutions and software that deliver better sensory experiences in mobile phones, personal media players, TVs, set-top boxes, identification applications, cars and a wide range of other electronic devices. NXP Semiconductors was founded in 2006 and is based in Eindhoven, Netherlands.

Sell -
SELLER

ICG

London, United Kingdom

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1989
PE ASSETS 33.4B 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 111 of 225
Sector: Software M&A 2 of 6
Type: Secondary Buyout M&A Deals 46 of 86
Country: Italy M&A 2 of 7
Year: 2010 M&A 10 of 13
Size (of disclosed) 36 of 74
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-01 Fort Dearborn

Elk Grove, Illinois, United States

Fort Dearborn is a supplier of high-impact decorative labels for the beverage, food, household products, paint and coatings, personal care, private label/retail, and spirits markets. Fort Dearborn is headquartered in Elk Grove, Illinois.

Buy $520M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-09 Helicon Cable Holdings

Rye Brook, New York, United States

Helicon Cable (also known as Jetbroadband) is a cable system operator that is predominately focused on rural areas in the eastern United Sates.

Sell $148M