Background: TechTeam is a worldwide provider of information technology and business process outsourcing support services to the Global 2000. The company provides its outsourced services through a combination of onsite client dedicated facilities and offsite centralized operations. TechTeam currently has $150 million in annualized revenues and 1,600 employees. The executive management team of TechTeam was seeking an equity investor to provide growth capital and have an underlying knowledge and network in India to support its pan-Asian expansion strategy.

Our Role and Results: Our principals were retained to partner with TechTeam to obtain the necessary growth equity capital from an investor offering experience, contacts, and cultural fit in India. We determined the optimal principal and structure of the investment and identified, negotiated, and successfully closed a $5 million investment with ChrysCapital. The investment firm of ChrysCapital is based in India, experts in the Indian economy, and has over $1 billion in investment capital from investors such as Harvard University and various Indian governmental agencies. TechTeam issued 689,656 shares of Series A Convertible Preferred Stock at a price of $7.25 per share. By working closely with the executive management team at TechTeam, we were able to successfully raise $5 million of capital on favorable terms from an investor that was an ideal fit with TechTeam’s growth and expansion strategy.