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WorkWave, a provider of SaaS solutions that support every stage of a service business's life cycle, has announced that it has signed an agreement to purchase TEAM Software, a leading provider of software and solutions for cleaning, janitorial, 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," added 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, janitorial, 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 footprint 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.