I am pleased to announce that as of yesterday, Monday 31st March, Tax Systems is now a Providence Equity Partners (Providence) backed business.
Providence is a specialist private equity investment firm focused on growth-oriented media, communications, education and technology companies across North America and Europe. You can find out more about our new investors by visiting their website.
We are excited to be partnering with Providence as we move into our next phase of growth. They recognise the strength of our business and the significant opportunities ahead, and their support will help us accelerate our mission to be EMEA’s leading tax compliance SaaS platform.
Karim Tabet, Senior Managing Director, Co-Head of Europe at Providence, commented: “We are excited by the opportunity to partner with Tax Systems. Throughout Bowmark’s ownership, the company has developed into a specialist leader in regulatory and compliance software. We believe this is a large and fragmented category, with constant changes and strong digitisation trends that provide potential for numerous growth avenues.”
Daniel Zwicky, Director at Providence, added: “We’ve followed Bruce Martin and the Tax Systems team for some time and are delighted to actively support their continued growth through organic platform innovation, enhancements to their product suite and commercial strategy, and through transformative acquisitions that drive value creation.”
Our previous investors, Bowmark Capital (Bowmark), have been instrumental in strengthening our position in core markets, expanding our product suite, and successfully entering new geographies, following their investment in March 2019.
Simon Kaufman, partner at Bowmark, commented: “We are proud to have supported the Tax Systems management team in the development of the business since 2019. The company has an exceptional reputation and following significant investment in its product suite and a highly complementary international acquisition, there is much opportunity ahead.”
This change in investors will not affect the current products and services our customers receive from Tax Systems (or TaxModel), and there will be no change to the individuals and teams they know and trust. Providence’s investment will support our ongoing expansion and innovation.
This is testament not only to our commitment to transforming the way tax professionals work, but also to all the hard work our people put in day in and day out. We are truly changing how tax compliance works on a global scale.
So here’s to being relentless in our pursuit to do better; to remaining steadfast in our resolve, and what we know to be possible – because we have the skills and the technology to positively impact the future.
The future of tax is powered by Tax Systems.
We are Tax Systems.