HgCapital acquires TeamSystem for €565m

The company is said to have attracted considerable attention from private equity investors such as Cinven, Advent International, Bridgepoint, Providence Equity Partners, Apax Partners and CVC Capital Partners. HgCapital outbid Cinven in the final stages of the auction, according to media reports.

The deal value equates to about 11.3x the company's EBITDA. Bain Capital acquired TeamSystem from Palamon Capital Partners in 2004 for €274m – including €40m of mezzanine facilities.

Founded in 1979, TeamSystem specialises in the development and marketing of financial management software products for tax, payroll, accounting and budgeting. Based in Pesaro, the company primarily serves small and medium-sized businesses and professionals.

The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.

If you have any information regarding this transaction, please contact Grégoire Gille on +44 20 7484 9824 or gregoire.gille@incisivemedia.com

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