07 July 2020
RSM’s Mergers and Acquisitions (M&A) and Private Equity (PE) team has successfully advised the shareholders of Accordance Technical Services Limited (Accordance), a leading provider of compliance and consulting services to mid-market companies across Europe, on its acquisition by Sovos, a global transactional tax software company.
Accordance is an international VAT consultancy and compliance firm with offices in Brighton and Amsterdam. The company provides VAT consultancy advice and tech-enabled compliance services to international clients across a diverse range of sectors. Created in 2006, Accordance has a unique position in the market as a one-stop shop for all VAT services.
Sovos supports more than 7,000 customers, including half of the Fortune 500, and integrates with a wide variety of business applications. The company has offices throughout North America, Latin America and Europe and is owned by London-based private equity firm, Hg Capital.
RSM has worked with Accordance since 2014, preparing the company for a transaction. This included assistance in selecting appropriate KPIs and advising on suitable business decisions to maximise the consideration achieved on a sale. Attendance at board meetings also ensured that management information was well maintained to streamline the diligence process.
‘RSM have given us expert advice over the years we have worked together. This culminated in a smooth process, ensuring value was maximised and the management team was not distracted in their current roles. RSM’s commitment and support were vital to the success of the deal, and we would like to thank the RSM team for all their help in finding a home for the company. We couldn’t recommend them enough.’
Nicholas Hallam, Chairman
Accordance Technical Services Limited