Clearlake Capital Acquires TEAM Technologies

Santa Monica, CA and Morristown, TN – November 15, 2018 – Clearlake Capital Group, L.P. (together with certain affiliates, “Clearlake”) today announced that it has acquired TEAM Technologies Inc. (“TEAM Technologies” or the “Company”), in partnership with Company management, from The Riverside Company. TEAM Technologies is a leading custom design and manufacturing partner to many of the world’s leading brands in the dental, medical, and cosmetic industries. Financial terms of the transaction were not disclosed.

Headquartered in Morristown, Tennessee, TEAM Technologies supports its customers across the entire product lifecycle, beginning with in-house design and innovation capabilities, through delivery via its best-in-class, highly automated manufacturing and packaging capabilities. The investment from Clearlake will enable TEAM Technologies to accelerate growth organically by continuing to build on a successful product development pipeline and sales strategy, as well as through acquisitions. Marshall White, President and CEO of TEAM Technologies, will continue to lead the Company.

“TEAM Technologies has long been a trusted innovation partner and a recognized supply chain leader across several highly attractive end markets,” said José E. Feliciano, Co-Founder and Managing Partner of Clearlake. “Our investment reflects our confidence in Marshall and his team’s ability to continue delivering the highest quality products and solutions to customers, and the unique opportunity to sponsor an attractive platform in a dynamic, but fragmented market.”

“We are excited to partner with Clearlake to continue expanding TEAM Technologies’ capabilities and delivering innovative solutions to the benefit of our customers and partners. By leveraging Clearlake’s substantial resources and sector expertise, we will continue to drive growth through our focus on fostering meaningful and deep partnerships with our customers, executing our growth strategy, and further expanding our powerful product innovation,” said Mr. White.

“TEAM Technologies has developed a stellar reputation for innovative product development and unmatched manufacturing capabilities with a high degree of automation and robust quality control systems,” added Arta Tabaee, Principal at Clearlake. “We look forward to leveraging our O.P.S.® framework to help TEAM Technologies accelerate its growth trajectory through both organic and acquisition-focused initiatives.”

William Blair & Company LLC acted as the exclusive financial advisor to TEAM Technologies and selling shareholders. A fully committed facility to help finance the transaction was provided by credit funds managed by affiliates of Ares Management, L.P. (NYSE: ARES) as well as Northwestern Mutual Capital, who will be acting as lead arrangers and administrative agents.