April 14, 2021
Waud Capital Completes Growth Capital Partnership with TeamSnap
Accomplished software executives Andrew Rueff and Peter Frintzilas to lead new platform investment, expanding the Firm’s Business & Technology Services portfolio
CHICAGO, April 14, 2021 /PRNewswire/ — Waud Capital Partners (“Waud Capital”), a leading growth-oriented middle market private equity firm, announced today the completion of a strategic partnership with TeamSnap (“the Company”), an industry leading sports technology platform providing team, club and league management software for the amateur sports industry. As part of the partnership, Waud Capital will acquire a majority stake and commit new equity to further enhance TeamSnap’s technology platform and pursue a combination of organic and inorganic value-creation initiatives to support the Company’s next stage of growth.
TeamSnap provides easy-to-use solutions for communication, scheduling, payment collection, registration, and real-time game sharing through its proprietary software platform and mobile application. TeamSnap is one of the most recognized names in sports technology due to its innovative approach to sports management, engaged and loyal user base and established national presence among the amateur sports community, and is well positioned to continue its impressive growth.
Peter Frintzilas, an Executive Partner at Waud Capital with 20 years of software experience, will serve as TeamSnap’s Chief Executive Officer. Mr. Frintzilas brings deep leadership experience from his executive roles with Intralinks and other leading software companies, including experience in the sports technology industry. Additionally, Andrew Rueff will become the Executive Chairman of TeamSnap, supporting Mr. Frintzilas in the Company’s transformation under this new partnership. Mr. Rueff brings 25+ years of software leadership experience and currently is a Waud Capital Operating Partner, leading its Sphere Commerce platform as Executive Chairman. Founder and previous CEO Dave DuPont will retain a financial stake in the company and play a critical role on TeamSnap’s executive team, working directly with key customers and partners.
“We are very excited for our team and our customers,” said Dave DuPont, Founder of TeamSnap. “As we now look to take the next step as the premier provider of sports management software, we see a unique opportunity with a well-capitalized partner to accelerate our growth and further distinguish ourselves as the leader in the exciting and passionate amateur sports market. We selected Waud Capital as our partner because of our shared vision for the future, its extensive history and expertise developing market-leading companies, and the experience brought by Andrew Rueff and Peter Frintzilas, all of which will allow us to be even more successful.”
“Our vision is to build the #1 software platform in the youth and amateur sports industry by delivering world class products that are trusted by our communities, and that provide an exceptional customer experience,” said Mr. Frintzilas. “Accomplishing this will require a continuation of TeamSnap’s strong culture, outsized growth, the pursuit of new innovation and product development, and ancillary revenue expansion. Waud Capital’s experience in executing similar growth strategies in other software investments, in addition to the firm’s expertise in payments and an ecosystem of resources will be highly valuable in unlocking this next phase of growth for our Company. I look forward to working with Dave and the team he has built at TeamSnap to broaden the Company’s offerings, deliver even greater value for our customers, and to realize the potential of helping increase access to sports for all of our communities.”
Justin DuPere, Partner at Waud Capital, added, “Our partnership with TeamSnap is another key example of the Waud Capital strategy of matching experienced executive leadership with the best platforms for growth. Pete and Andrew bring impressive track records of building vertical-specific software companies and will be very strong additions to an outstanding business that has already demonstrated an amazing track record of growth.”
“We are tremendously excited to partner with Dave and TeamSnap to continue building the industry leading amateur sports technology platform,” said Karan Sabharwal, a Vice President at Waud Capital. “We are confident we can apply our experiences working with market-leading software companies to further accelerate organic growth and identify strategic acquisitions.”
Piper Sandler served as financial advisor to Waud Capital and Kirkland & Ellis provided legal counsel. GCA Advisors acted as financial advisor to TeamSnap and Cooley was legal counsel. Terms of the partnership were not disclosed.
TeamSnap is an award-winning mobile and web service application for managing ongoing activities including recreational and competitive sports teams, social groups and other organizations. TeamSnap offers an easy to use online interface that allows users to easily track participants, schedules, attendance and availability, payments, statistics and many other capabilities. Headquartered in Boulder, CO with an engaged user base spanning 195 countries and teams representing more than 100 different sports and non-sports groups, TeamSnap has become one of the fastest growing team and group management solutions available. For more information, please visit www.teamsnap.com.
About Waud Capital Partners
Waud Capital Partners is a leading growth-oriented private equity firm with total capital commitments of approximately $3.2 billion since its founding in 1993. The firm partners with exceptional management teams to build market leading companies within two industries: healthcare services and business and technology services. Since its founding, Waud Capital has successfully completed more than 325 investments, including platform companies and follow-on opportunities. For additional information on Waud Capital, please visit www.waudcapital.com.
Investment Team Contact:
Justin DuPere, Partner – Investment Team
Business Development Contact:
Phil Olson, Partner – Business Development
Philip Kemp, Head of Investor Relations
Nick Rust – Prosek Partners
SOURCE Waud Capital Partners