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TeamSystem targeted by Adia and CapitalG funds to acquire minority stakes

Investments by Abu Dhabi and Alphabet (Google) will boost growth and internationalization of the provider of business software solutions based in Italy


New investments in TeamSystem, a leading provider of business software based in Italy. A wholly owned subsidiary of the Abu Dhabi Investment Authority (Adia) and CapitalG, the independent growth fund of Alphabet, Google’s parent company, have entered into definitive agreements to acquire minority stakes in TeamSystem. The global private equity firm Hellman & Friedman (H&F) will remain the majority shareholder after these transactions, which follows the investment by Silver Lake Partners, announced in May 2023.

TeamSystem is an Italian technology company with market-leading digital solutions enabling companies and professionals to run their businesses. Founded in Central Italy some 40 years ago, TeamSystem serves today 1.8 million customers in Italy and Spain through proprietary cloud platforms, reporting a turnover of approximately 700 million Euros in 2022.

Federico Leproux, CEO at TeamSystem

"These new investments are a significant vote of confidence in TeamSystem's strategy as we broaden our product offerings and expand our reach into new markets. We are excited to continue our journey with Hellman & Friedman, who has been our trusted partner for over seven years”, said Federico Leproux, CEO of TeamSystem.

"The partnership between H&F and TeamSystem has been built on a foundation of mutual trust, shared vision and a commitment to long- term growth. We are delighted with the performance of the company since we invested in 2016, and excited to continue our collaboration with TeamSystem’s outstanding management team. We are also pleased to welcome Adia and CapitalG as our trusted partners, alongside management, Hg and Silver Lake”, added Blake Kleinman, Partner at Hellman & Friedman.

We firmly believe that TeamSystem is well positioned to continue to grow in both existing and new markets. This investment aligns with our approach of supporting market-leading software businesses that offer mission-critical solutions to their customer bases”, commented Hamad Shahwan Aldhaheri, Executive Director of the Private Equities Department at Adia.

TeamSystem has built a compelling software suite serving nearly 2 million businesses across Southern Europe. We are delighted to be able to connect TeamSystem with experts from Google and Alphabet to support the company as it expands its rapid customer growth and broadens the scope of its product offerings”, concluded Jesse Wedler, General Partner at CapitalG.

The transactions are expected to close in Q1 2024, subject to customary closing conditions and regulatory approvals where applicable.

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