Freshfields advises Hellman & Friedman on its extended partnership with Teamsystem

Global law firm Freshfields is advising long-standing client Hellman & Friedman (H&F) on the extension of its decade-long partnership with TeamSystem, a leading European technology and AI company. As part of the transaction, Francisco Partners will lead a new minority investment, KKR will invest as a new minority shareholder and existing investor, Silver Lake will increase its stake. Existing investors will remain shareholders, and H&F will remain the majority shareholder in the company.

TeamSystem provides cloud software and AI tools for finance, accounting, HR, and payments workflows to small and medium-sized businesses and their professional advisors. Since H&F’s initial investment in 2016, TeamSystem has expanded from approximately 200,000 customers to more than three million, extending its footprint beyond Italy into Spain, France, Turkey and Israel, with revenues quadrupling to exceed over €1.1bn today.

The new investment is intended to support TeamSystem’s next phase of growth, including expanding its AI-native product suite, growing its international presence and migrating its customers to cloud-native platforms.

Completion of the transaction is subject to customary conditions and regulatory approvals and is expected to occur in H1 2027.

The Freshfields team was led by private capital partner Tim Wilmot and senior associate Ted Haxby. Specialist advice was provided by partner Cyrus Pocha (financial services regulatory), partner Ermelinda Spinelli (antitrust and foreign direct investment) and partner Jill Gatehouse (tax).

Further details on the transaction can be found here.