Ryan acquires Qvalia’s VAT compliance and recovery business in the Nordics
Ryan, a global tax services and software provider, has acquired Qvalia’s value added tax (VAT) compliance and recovery business, a provider of VAT services in the Nordics. The acquisition significantly expands Ryan’s brand in the region and continues to grow its service offerings across Europe.
“Ryan’s commitment to our clients in the European region is evident by our expansion into the Nordics,” said Ryan Chairman and CEO G. Brint Ryan (pictured). “We’re thrilled to welcome Qvalia’s highly experienced tax professionals to our workplace. Our clients will benefit from Qvalia’s leading VAT recovery and compliance services in the Nordics, while Qvalia’s clients can now take advantage of Ryan’s full suite of tax services globally, creating tax centres of excellence.”
Qvalia was founded in 2007. It has headquarters in Stockholm, Sweden and offices in Norway, Finland, and Denmark. This strategic acquisition adds 32 VAT professionals, located across four new office locations to Ryan’s European team, including Qvalia’s four senior country leaders: Michael Bernhardtsen in Denmark, Andre Klemsdal in Norway, Teemu Kamu in Finland, and Cathrine Engman in Sweden. Collectively, with more than 40 years of experience, they will focus on Ryan’s growth in their respective country markets.
“The addition of Qvalia’s VAT compliance and recovery team further solidifies Ryan as a leading provider of VAT services in Europe. Qvalia’s innovative and transformative approach and culture are a powerful fit with our mission to help our clients transform their tax function into centres of excellence,” said Jon Sweet, Ryan’s president of European and Asia-Pacific Operations. “This acquisition not only positions Ryan as the preeminent VAT provider in the Nordics, but it also strengthens our VAT compliance and recovery practice throughout Europe.”
Qvalia’s finance process automation platform and fintech will continue to operate under the Qvalia name and brand and will not be included as part of the acquisition. With significant synergies existing between the two companies, there will be continued opportunities for both Qvalia’s and Ryan’s combined client base to leverage discrete offerings, as the two organisations partner prospectively.
“This is an exciting opportunity for Qvalia’s VAT compliance and recovery team to join a global leading tax firm. After founding and growing this practice over the last 15 years, I am confident this team will bring valuable in-depth knowledge, expertise, and experience of the Nordic market to Ryan,” said Henri Taipale, CEO and founder of Qvalia, who will be focusing on further growing Qvalia’s finance process automation platform. “I am looking forward to continuing to partner with Ryan and joining forces to be able to serve our mutual clients in an excellent and innovative way.”
Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
