Following the transaction, TMF Group will end up among the top five services companies in the field of accounting, tax conformity, and HR and payroll services on the local market, according to the Group’s officials.
They also said the acquisition represents a new stage for TMF Group, which will be consolidating its foothold on the market in Southeastern Europe, following the recent acquisitions of Greece-based Premier Consulting SA and Malta-based Avanzia Taxand Ltd.
Contexpert, founded 26 years ago by Sorin Istrate, reported for 2022 a turnover of RON17.2 million, a net profit of RON3 million and an average number of 104 employees, in line with finance ministry data.
TMF Romania reported for 2022 a turnover of RON32.4 million, a net profit of RON4.2 million and an average number of 115 employees, in line with finance ministry data.