CVC acquires TMF Group from DH Private Equity

The deal marks the first investment made by the London-based GP's buyout fund CVC Capital Partners VII, which held a final close on its hard-cap of €15.5bn in June 2017.

Earlier in October this year, TMF announced its intention to float on the London stock exchange in November. The group said it expected to have a free float of at least 25% and had yet to set a price range for the now-shelved IPO. 

Previous funding
DH Private Equity Partners acquired TMF from Silverfleet Capital for a total of €750m in July 2008. Silverfleet first backed the business in September 2004 in an €80m buyout from SNS Reaal Group.

Company
Founded in 1988, TMF is headquartered in Amsterdam and operates 125 offices globally. It offers clients three core services, including accounting and tax, company secretarial and regulatory compliance, and HR and payroll services.

The group recorded revenues of €529m in 2016, with an adjusted EBITDA of €137.6m.

People
CVC Capital Partners – Ivo Lurvink (partner).

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