Bowmark-backed Tax Systems acquires TaxModel

TaxModel has been a prominent player in the tax compliance sector for over a decade and provides innovative SaaS solutions developed for tax professionals. The company has more than 300 clients in over 25 countries, including top accounting firms and multinationals from a variety of sectors.

The acquisition enables Tax Systems to increase the depth and breadth of its tax solutions offering, by adding TaxModel’s tax provisioning, transfer pricing, and other regulatory reporting products.

Simon Kaufman, partner of Bowmark, commented: “Hank Moonen and his team at TaxModel have built a fantastic business, and we are delighted to support the next stage of its growth. The acquisition is an exciting step for Tax Systems, enabling it to accelerate its expansion beyond its leading position in the UK and Irish markets by combining with TaxModel’s highly complementary international tax solutions and wide geographical footprint.”

Bruce Martin, CEO of Tax Systems, added: “This marks a significant milestone in our growth strategy. We remain steadfast in our mission to provide our customers with best-in-class software to transform the way they work; adding TaxModel’s proven and innovative solutions to our portfolio builds a compelling value proposition for both existing and new customers. We have a shared vision, and by bringing our collective technologies and teams together, I’m confident we’ll expand on the high-quality services that clients have come to expect from both companies."

Read the full press release here.