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Tax Systems
Oakley advises Tax Systems plc on its recommended acquisition by Bowmark Capital
Sector:
Technology
Transaction Type:
Disposal
Date:
March 2019
Deal Value:
£114m

Oakley Advisory Limited (“Oakley”), the independent corporate finance firm offering specialist advice across the TMT sector, is delighted to have advised Tax Systems plc (“Tax Systems”) on its recommended acquisition by Bowmark Capital, which completed today. Oakley acted as Rule 3 and lead financial advisor to Tax Systems.

Tax Systems is a leading provider of corporation tax software and services in the UK and Ireland. Its portfolio of solutions automates the end-to-end tax compliance process, enabling the company’s clients to increase the accuracy of their tax reporting, reduce the risk of non-compliance and free up the tax function to focus on value-adding tasks. Clients include a large proportion of the FTSE 250 and 23 out of the top 25 accounting firms. The acquisition values Tax Systems at approximately £114m.

The Oakley team was led by Chris Godsmark, Managing Partner and Marc Jones, Director. They were supported by Max Gilbert, Associate, Sarthak Sawlani, Associate, and Guillaume de Kerhor, Analyst.

Tax Systems’ CEO Gavin Lyons said:

“It has been an absolute pleasure working with the Oakley team to execute this public to private management buy-out backed by Bowmark. Marc and his team proved to be supportive, knowledgeable and committed.”

Marc Jones, Director at Oakley, commented:

“We are extremely pleased to have advised the board of Tax Systems on the recommended acquisition by Bowmark. Our engagement, which included providing Rule 3 advice on the financial terms of the offer, is a further demonstration of our capability in deals involving listed companies. We are seeing a growing interest in public to private transactions across all sectors, including our core TMT franchise.”

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