DALLAS AND MISSISSAUGA (July 9, 2024) - Ryan, a leading global tax services and software provider, announced today it has entered into a definitive agreement to acquire the Property Tax business of Altus Group Limited for CAD $700 million in cash, which includes its property tax services and software offerings in Canada, the United Kingdom, and the United States. Ryan has also committed to enter into an Altus Market Insights subscription agreement upon closing of the transaction for CAD $5 million per year for a period of three years.
“This acquisition will provide benefits for both Altus’s property tax clients and Ryan’s global clients from bolstered local expertise powered by industry-leading technologies,” said G. Brint Ryan, Chairman and CEO of Ryan. “Our dedication to providing exceptional client service is unwavering as we continue to strive to provide best-in-class offerings and services to all of our stakeholders. Altus has built an impressive property tax business that is highly regarded as a trusted advisor in the industry, and we believe our clients will enjoy many enhanced benefits from our combined platform. We look forward to welcoming the many talented Altus team members to the Ryan family.”
Altus Group’s Property Tax business generated revenues of CAD $263 million in full year 2023 and is expected to add approximately 975 team members worldwide. The acquisition will allow Ryan to expand its scale in its European operations through the establishment of UK property tax services, while providing more expertise and capabilities throughout Canada and the United States. The transaction will also afford Altus Group’s clients access to Ryan’s value-added tax services across more than 50 global tax disciplines.
“This transaction allows Altus Group to focus on the substantial growth opportunities in our core Analytics business while ensuring our property tax clients will continue to be well serviced by Ryan’s leading capabilities,” said Jim Hannon, Chief Executive Officer of Altus Group. “We believe Ryan is the best strategic fit for our Property Tax business, and we’re confident our clients will benefit from the expanded tax service offerings Ryan can provide them.”
The transaction is subject to customary regulatory approvals and other closing conditions.
RBC Capital Markets, LLC served as M&A advisor, and Kirkland & Ellis LLP, Goodmans LLP, and Arnold & Porter Kaye Scholer served as legal counsel to Ryan, LLC.
À propos de Ryan
Ryan, un fournisseur mondial primé pour ses services et logiciels fiscaux, est le plus grand cabinet au monde dédié exclusivement à la fiscalité des entreprises. Le cabinet offre une gamme intégrée de services fiscaux fédéraux, provinciaux et internationaux sur une base multinationale, incluant des services de recouvrement fiscal, de conseil, de défense, de conformité et de technologie. Ryan a été récipiendaire du prix international pour l’excellence de son service, décerné par le Customer Service Institute of America (CSIA) à 11 reprises, pour son engagement envers un service à la clientèle de classe mondiale.
Grâce à l'environnement de travail dynamique myRyan, largement reconnu comme le plus innovateur du secteur des services fiscaux, l'équipe multidisciplinaire de Ryan, qui compte plus de 4 800 professionnels et associés, dessert plus de 30 000 clients dans plus de 80 pays, notamment un grand nombre des entreprises les plus connues du classement Global 5000. Pour en savoir plus sur Ryan, visitez https://ryan.com/canada-fr/.
PERSONNE-RESSOURCE POUR LES MÉDIAS
Melodie Elliott
Première directrice, contenu et communication marketing
Ryan
+1 972.934.0022
melodie.elliott@ryan.com
- Sujet
- G. Brint Ryan
- Ontario
- Acquisitions