Jul 14, 2014 UncategorizedComments Off on TMF Group Signs Agreement to Acquire KCS Limited
LONDON, July 14, 2014 /PRNewswire/ —
Significant step in expansion of TMF Group’s operations in Asia Pacific
TMF Group, a leading provider of high value Outsourced Business Services to clients operating and investing globally, is pleased to announce it has agreed to purchase KCS Limited – the leading independent pan-Asian corporate services provider specialising in corporate accounting, corporate secretarial and payroll services – from UCL Asia Partners, L.P.
Originally founded in 1946, KCS Limited was acquired by UCL Asia Partners, L.P. in 2003 following its spin-off from KPMG. Since then, KCS Limited has grown from 43 employees working from a single Hong Kong office to 470 employees, spanning 14 locations in eight countries/regions, through a combination of strategic acquisitions and organic growth.
The acquisition will strengthen TMF Group’s existing platform in Asia Pacific, increasing the breadth and depth of TMF Group’s Outsourced Business Services offering in the region and enabling significant future growth.
TMF Group funded the acquisition from existing resources. The financial terms of the transaction have not been disclosed.
Tom Corkhill, Chief Executive of KCS Limited, commented: