Apex Group has acquired a majority shareholding in tax services firm FTS, strengthening the financial services provider’s presence in the US.
FTS provides tax planning, tax compliance, and tax structuring for private equity funds, and real estate funds in the alternative investment industry. These services are underpinned by technology to deliver services in a secure and efficient manner and provide integration of fund partnership accounting into the partnership tax platforms.
The acquisition strengthens Apex’s offering for clients in the US market, with the new tax offering adding to the firm’s existing range of US tax preparation services and support, including the filing of IRS Form 1065 with related Schedule K-1s plus and issuance of PFIC statements for US investors in offshore funds.
Peter Hughes, founder and CEO of Apex Group, said the US remains a key strategic market for Apex and FTS represents a complementary addition to its 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,” he said. “Our clients will benefit from FTS’ integrated and inclusive approach to addressing client needs, as well as additional tax planning support.”
William McEnroe, founder and CEO of FTS, added: “We are proud to have built a business, known for providing quality and technical expertise in the alternative investment and family office sectors. Apex shares our dedication to the highest standards of service, and as part of the wider Group, we can better support our clients as they evolve and grow. 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.”
The acquisition follows the appointment of Krishna Prasad as head of US – who has been responsible for leading the firm’s business and client development in the States since he assumed the role on 7 March 2022.