Waud Capital Partners announced the completion of a strategic partnership with TeamSnap. As part of the partnership, Waud Capital will acquire a majority stake and commit new equity to enhance its technology platform and pursue a combination of organic and inorganic value-creation initiatives to support the company’s growth.
Peter Frintzilas, an executive partner at Waud Capital with 20 years of software experience, will serve as TeamSnap’s CEO. Frintzilas brings leadership experience from his executive roles with Intralinks and other software companies, including experience in the sports technology industry.
Andrew Rueff will become the Executive Chairman of TeamSnap, supporting Frintzilas in the company’s transformation under this new partnership. Rueff brings 25 plus years of software leadership experience and is Waud Capital’s 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 role on TeamSnap’s executive team working directly with customers and partners.
“We are very excited for our team and our customers,” said Dave DuPont, founder, 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 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, a 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 advisors to TeamSnap and Cooley was legal counsel. Terms of the partnership were not disclosed.
Photo courtesy TeamSnap
