TMF Group acquires VAT International

 In TMF Group

TMF Group has announced the acquisition of VAT International (“VI”), a UK based provider of VAT recovery and compliance services.

Established in 1995, VI assists its clients in the compilation, submission and tracking of VAT returns and VAT recovery claims in over 30 countries both across Europe and globally. The company has its head office in Brighton together with a back office support function in Sofia, Bulgaria.

The acquisition of this business further enhances TMF Group’s position as one of the leading independent service providers for VAT compliance services in the world and demonstrates TMF Group’s commitment to driving growth in its VAT Compliance Services business. VI’s clients will also benefit from TMF Group’s broader expertise in VAT compliance, and the suite of support services that it can offer to operating companies in over 80 jurisdictions around the world.

Martyn Redman, Chief Executive of VAT International, commented: “I’ll be saddened to leave the company that I’ve nurtured for nearly 25 years. But I am really pleased to be handing over the reins to TMF Group. The company provides a wider global reach and is well positioned to continue VI’s successful growth. There’s no doubt that becoming part of TMF Group can allow VI to continue providing a first class service to its clients, and this transaction marks another step in maintaining VI as a market leader in international VAT.”

Howard Scarborough, Head of Global Client Services at TMF Group, commented: “The completion of the VI acquisition will accelerate our growth in the VAT compliance market, and provide complementary expertise in the cross-border VAT reclaim space. I am delighted to welcome the VI team to the TMF Group, and I look forward to working with VI’s global customers as we continue to deliver the excellent service that they have become accustomed to under Martyn’s stewardship.”

TMF Group funded the acquisition from existing cash resources; financial terms of the transaction have not been disclosed.

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