WorkWave to Acquire TEAM Software
Holmdel, NJ – September 14, 2021 – WorkWave®, a provider of SaaS solutions that support every stage of a service business’s life cycle, today announces that it has signed an agreement to purchase TEAM Software, the world’s leading provider of software and solutions for cleaning, security, and facilities management service providers. The acquisition is expected to close at the end of September.
Much like WorkWave’s recent acquisition of Real Green, the acquisition of TEAM Software marks another rare moment where market leaders are coming together to create something unique. Combined, these companies bring well over 100 years of experience partnering with the best service providers in the world, allowing WorkWave to offer the broadest and most complete set of solutions that empower service companies — from SMB to enterprise — to grow their business, improve profitability, and beat their competition.
“This acquisition marks a major step forward in the execution of WorkWave’s strategy to push into new markets, while leveraging our proven track record of helping our customers provide superior service and build fast-growing and highly profitable companies,” said David F. Giannetto, CEO of WorkWave. “We are thrilled to be joining forces with TEAM to deliver on our shared commitment to provide the greatest value to our entire customer base.”
“With the acquisition of proven brands such as Real Green, Slingshot, Coalmarch, and TEAM Software, WorkWave now stands alone as the premier provider of the broadest set of SaaS software and solutions supporting the widest range of service industries,” said Darren Roos, Chairperson of the board at WorkWave. “WorkWave has a proven track record of delivering customers value, so empowering more customers, across more geographies, with more industry-specific solutions adds fuel to the company’s continued growth.”
In addition to its market-leading position in the pest control and green industry verticals, WorkWave will become a leading software provider in the commercial cleaning, facilities management, and security service industries with the acquisition of TEAM Software and its enterprise-level solutions. TEAM will also expand WorkWave’s presence in key international markets, creating a local presence in EMEA and APAC that supports WorkWave’s increased presence overseas. This further supports WorkWave as it delivers on its mission of helping customers grow their business, service their customers, and maximize their money in these new vertical and geographic markets.
“We are thrilled to join an industry leader like WorkWave, who has proven service-industry expertise along with a commitment to supporting customer growth through powerful solutions and exceptional service. WorkWave’s mission and approach mirror how we think and operate as well,” said John Leiferman, CEO of TEAM Software. “Together, we can provide more value-driven innovation to the industries we support through our greater combination of world-class tools, expertise, and experience.”
WorkWave is backed by EQT, TA Associates and Serent Capital, and TEAM Software is backed by Accel-KKR.
For nearly 40 years, WorkWave has been building best practices into its market-leading field service and last mile software solutions to allow best-in-class companies to grow their business, service their customers and maximize their money. Its solutions empower service-oriented companies to reach their full potential through scalable, cloud-based software solutions that support every stage of a business life cycle, including marketing, sales, service delivery, customer interaction and financial transactions. WorkWave is a trusted partner for thousands of customers across a wide variety of industries, including pest control, lawn care, cleaning, HVAC, plumbing and electrical, and last mile delivery. WorkWave’s award-winning culture and solutions have been recognized in the SaaS Awards, the Cloud Awards, the American Business Awards, the NJBIZ Best Places to Work Awards, and the Stevie Awards for Great Employers. For more information, visit workwave.com.
About TEAM Software
TEAM Software develops market-leading solutions for companies powered by distributed workforces, specifically those serving the cleaning and security sectors. TEAM’s technology enables companies to manage and optimize their business, from front-line service delivery to back-office financial management, by providing business-critical information to reduce risk and costs and improve efficiency, profitability and growth. Established in 1989, TEAM is the premier partner and recognized global technology leader for companies that keep the world clean, safe and secure. Customers count on TEAM’s proven industry expertise, world-class software solutions and exceptional customer experience. Headquartered in the U.S., TEAM has additional bases of operation in Australia and the U.K. For more information, visit teamsoftware.com.
Accel-KKR is a technology-focused investment firm with over $10 billion in capital commitments. The firm focuses on software and tech-enabled businesses, well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across a wide range of transaction types including private company recapitalizations, divisional carve-outs and going-private transactions. In 2019 and 2020, Inc. named Accel-KKR to “PE 50 – The Best Private Equity Firms for Entrepreneurs”, its annual list of founder-friendly private equity firms. Accel-KKR is headquartered in Menlo Park with offices in Atlanta and London. Visit accel-kkr.com to learn more.
Sr. Manager, Strategic Communications, WorkWave