Houlihan Lokey Advises The TEAM Companies

Houlihan Lokey is pleased to announce that The TEAM Companies (TEAM), a portfolio company of TorQuest Partners (TorQuest), has been acquired by Cast & Crew Payroll, LLC (Cast & Crew), a portfolio company of EQT Group (EQT). The transaction closed on December 30, 2021.

TEAM is a leading provider of payroll, production management, and business affairs systems based in Burbank, California. The company’s Payroll division spans union and non-union talent, crew, music, and events, and its Business Affairs division offers services such as talent and production business management, celebrity and influencer engagement, rights management, traffic and network clearance, as well as signatory support for North American performer unions. It has established itself as a knowledge-driven organization, expanding its subject-matter expertise and offerings to fully support the business behind the conception, production, and distribution of advertising and entertainment projects ranging from broadcast television commercials and fashion photography to music recording and global concert tours.

TorQuest is a Toronto-based, middle-market private equity firm that makes investments in established, profitable, and fast-growing, middle-market consumer businesses. The firm focuses on investing in companies operating in the financial services, industrial product and services, chemical, and consumer product sectors. The TorQuest team bring values through a thoughtful mix of M&A expertise and operational perspective, financial acumen, and disciplined execution.

Cast & Crew is a leading international provider of mission-critical software and technology-driven services to the entertainment industry. The company provides payroll processing, payroll invoicing and reporting, residual invoicing, and reporting services to companies in the film and television, music tours, and festivals industries, ensuring an increase in the quality and speed of payroll operations, easy transition to the digital format, and greater visibility and customization. Cast & Crew is currently a portfolio company of EQT, a leading investment firm with more than €71 billion in assets under management across 27 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific, and the Americas, with total sales of approximately €29 billion and more than 175,000 employees.

Houlihan Lokey acted as the exclusive financial advisor to TEAM. The firm marketed, structured, and negotiated the transaction on behalf of the company and its shareholders by leveraging its unique access and unparalleled understanding of the entertainment industry and its key players. This deal highlights Houlihan Lokey’s continued position as a leading advisor within the entertainment industry.