Francisco Partners leads minority investment in TeamSystem alongside H&F, KKR and Silver Lake

Francisco Partners will lead a new minority investment in TeamSystem, with KKR joining as a new minority shareholder and Silver Lake increasing its stake. Hellman & Friedman, the existing majority investor, will make a new investment and remain majority shareholder. Financial terms were not disclosed.

TeamSystem provides cloud software and AI tools for finance, accounting, HR and payments workflows used by small and medium-sized businesses and the professionals who advise them. The company says it has grown from about 200,000 customers when H&F first invested in 2016 to more than three million, and reported revenue above €1.1bn. Its management team will roll a substantial portion of its holdings into the new structure.

Completion is subject to customary conditions and regulatory approvals and is expected in the first half of 2027. ADIA's Luxinva and CapitalG will remain shareholders. Evercore acted as sole financial adviser to Hellman & Friedman and TeamSystem, and Morgan Stanley advised Francisco Partners.