Apex Group acquires shareholding in tax services firm FTS
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Apex Group acquires shareholding in tax services firm FTS 14 April 2022US Reporter: Jenna Lomax
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Apex Group has acquired a majority shareholding in FTS, a tax services firm, to reinforce Apex’s offering for clients in the US market.
FTS provides tax planning, tax compliance, and tax structuring for private equity funds, and real estate funds in the alternative investment industry.
The tax offering complements Apex’s existing range of US tax preparation services and support, including the preparation and filing of IRS Form 1065 with related Schedule K-1s and issuance of Passive Foreign Investment Company statements for US investors in offshore funds.
FTS’ clients will benefit from Apex’s global, cross-jurisdictional reach and range of additional services including digital banking, global compliance solutions and ESG ratings and advisory tools.
The addition of the FTS business broadens Apex’s existing presence in the US, increasing the group’s Americas employees to more than 600 people.
The acquisition follows the acquisition of Greenough Consulting Group, expanding Apex’s West Coast presence in the US.
William McEnroe, founder and CEO of FTS, says: “Apex shares our dedication to the highest standards of service, and as part of the wider group, we can better support our clients. We are excited to become part of Apex Group and for our clients to benefit from the density of products, technologies and cross-jurisdictional access now available to them.”
Peter Hughes, founder and CEO of Apex Group, comments: “The US remains a key strategic market for Apex and FTS represents a complementary addition to our single source client offering. William and his team bring unrivalled knowledge of the tax requirements of structures in the alternative funds space, working effectively and efficiently to deliver results. Our clients will benefit from FTS’ integrated and inclusive approach to addressing client needs, as well as additional tax planning support.”
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