TEAM Software Announces Strategic Investment Partnership
TEAM Software, a provider of cloud-based technology solutions for contractors in the janitorial and security industries, announced a strategic investment from Accel-KKR, a technology-focused private equity firm based in Menlo Park, California.
TEAM develops integrated financial, operations and workforce management solutions for contractors with distributed workforces of any size, with a focus on the janitorial and security industries. TEAM serves more than 400 customers and 400,000 end users across North America.
This transformational partnership combines TEAM’s 30 years of deep industry focus and award-winning holistic technology platform with Accel-KKR’s successful track record helping software companies grow. Accel-KKR will provide capital and resources to enhance TEAM’s innovation engine, strengthen its technology offerings, and position the company for rapid market expansion and growth.
“Together, we will be able to enhance our product strength and deliver unparalleled value to our customers, faster,” said John Leiferman, TEAM Software CEO. “As a partner, Accel-KKR is committed to and focused on providing capital and expertise to help us accelerate growth and scale our operations and development capabilities so we can continue to expand our customer base and reach.”
TEAM’s current leadership will remain in place. This approach best supports business continuity, strategic objectives and the current customer base while leveraging TEAM’s strong industry expertise.
“Like TEAM, Accel-KKR is a values-based organization that shares a passion for innovation and an intense focus on customer satisfaction and employee success,” said Jill Davie, TEAM Software President. “Accel-KKR’s core values -- innovation, teamwork and customer focus -- are foundational to its culture and have a natural alignment with our values that center on keeping customers first, accountability and going the extra mile.”
“This partnership is the next great chapter of TEAM’s story,” said Leiferman. “We look forward to the growth opportunities ahead and to leveraging Accel-KKR’s resources and network to help us define what’s next.”
According to Jason Klein, a managing director at Accel-KKR, “TEAM has all of the characteristics that we look for when we make an investment – it is a market leader with a strong product and is hyper-focused on customer success. Our partnership is predicated on helping the company innovate more quickly, expand its operations to create even greater value for customers and provide meaningful opportunities for employees. We look forward to working with management at TEAM to help the company reach its full potential.”
Mooreland Partners LLC acted as exclusive financial advisor to TEAM Software in connection with this transaction.
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