OC&C advises Francisco Partners on its minority investment in TeamSystem

Francisco Partners is set to become a new minority investor in TeamSystem, one of Europe’s largest business software companies, as part of a significant new investment to support the Group’s next phase of AI-led growth and international expansion.

OC&C provided buy-side commercial due diligence to Francisco Partners in support of the transaction, building on its existing relationship with TeamSystem.

TeamSystem is a leading European software company providing cloud-based solutions to small and medium-sized businesses and the professionals who advise them. Its integrated platform supports critical business functions across finance, accounting, HR and payments, helping customers manage and streamline their day-to-day operations.

The business has experienced substantial growth over the past decade, expanding from approximately 200,000 customers in 2016 to more than three million today. During this period, TeamSystem has grown from a predominantly Italian business into a European software platform, with operations across Spain, Turkey, France and Israel. Revenues have increased more than fourfold since 2016, reaching over €1.1 billion.

TeamSystem has also accelerated its investment in AI, launching nearly 20 product suites across 2025 and 2026. These developments strengthen its ability to deliver intelligent, integrated solutions to its established customer base, while creating further opportunities for innovation and growth.

The new investment will support TeamSystem’s continued international expansion, the development of its AI-native product offering and the ongoing migration of customers to its cloud platform. Francisco Partners will join existing majority shareholder Hellman & Friedman, which is reinvesting in the business, alongside new minority investor KKR and existing shareholder Silver Lake, which is increasing its stake.

The transaction reflects the continued opportunity across European business software, where the adoption of cloud-based solutions and AI-enabled capabilities is creating new avenues for growth and customer value. With an established customer base, highly recurring revenues and a broad product offering, TeamSystem is well positioned to build on its market leadership and accelerate its next phase of development.

The transaction remains subject to customary conditions and regulatory approvals, with completion expected in the first half of 2027.

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