PRINT THIS PAGE Palamon sells Italian software firm TeamSystem to Bain Capital 23/12/2004. Source: AltAssets. 
 Pan-European buy-out firm Palamon Capital Partners has sold its Italian software company TeamSystem to US buy-out firm Bain Capital for a reported €280m. The company had hoped to float on the Milan stock exchange earlier in the year but failed to generate sufficient investor interest.
Palamon paid €25m for its 67 per cent stake in TeamSystem in 2000, meaning it has generated a return of about six times its initial investment.
TeamSystem makes management software for small and medium sized businesses.
Bain has been one of the most active US groups in Europe, investing in both large and mid-sized deals. It has raised two dedicated European funds as well as investing out of its global fund.
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