{{Short description|Dutch multinational company}} {{for|the former Dutch music television and radio channels|The Music Factory}} {{Infobox company | name = TMF Group Worldwide | logo = TMF Group.png | type = | foundation = {{start date and age|1988}} | location = Amsterdam, Netherlands | key_people = Mark Weil (CEO), Patrick de Graaf (CFO), | industry = Professional services | services = Accounting and reporting services | num_employees = 13000 (2026) | revenue = {{increase}} € 744 million (''2022'')<ref>{{Cite web|url=https://www.tmf-group.com/en/news-insights/press-releases/2023/march/tmf-group-announces-2022-full-year-results/|title = TMF Group announces 2022 full year results}}</ref> | operating_income = {{Increase}} € €235 million (2022){{!}} €199 million (2021) | parent = {{Unbulleted list|CVC Capital Partners|Abu Dhabi Investment Authority}} | homepage = {{URL|https://www.tmf-group.com/|tmf-group.com}} }}
'''TMF Group B.V.''' (''Trust Management Finance'') is a Dutch multinational professional services firm headquartered in Amsterdam, Netherlands, providing accounting, tax, HR administration and global payroll services. As of October 2023, the company has 125 offices, 86 jurisdictions, and employs 10,000 people. It also has more than $215 billion in Assets Under Administration (AUA).<ref>{{cite web |title=Private Equity Wire |url=https://www.privateequitywire.co.uk/tmf-group-acquires-outsourced-fund-admin-provider/}}</ref>
== History ==
TMF Group was founded in the Netherlands in 1988.<ref name="Doughty Hanson">{{cite web | url=http://www.doughtyhanson.com/private-equity/news/2008/17-07-2008.aspx | title= Doughty Hanson to Acquire TMF for €750 million | publisher=Doughty Hanson| accessdate=2013-09-11}}</ref> Between 2006 and 2009, TMF Group made 47 acquisitions including departments of Ernst & Young, KPMG, Grant Thornton and Baker Tilly in countries like Brazil, Argentina, Mexico, China and Australia.<ref>[http://www.tmf-group.com/about-us/acquisitions.aspx TMF Group Acquisitions]</ref>
In October 2008, British private equity firm Doughty Hanson & Co bought TMF Group for €750 million.<ref name="Doughty Hanson"/> In January 2011, Doughty Hanson completed its €350 million acquisition of Equity Trust. This paved the way for TMF Group's merger with Equity Trust, which was completed at group level in June 2011.<ref>[https://bosco-conference.com/en/partners/tmf-group Bosco Conference Partners]</ref>
In 2015, TMF Group acquired the Brazilian business process outsourcing unit from PwC, including delivery centers in Barueri, Rio de Janeiro and Ribeirão Preto, providing business process outsourcing services in finance & accounting, human resources, tax and compliance.<ref>{{Cite web |last=Ammachchi |first=Narayan |date=2015-03-23 |title=TMF Group Buys PricewaterhouseCoopers’ Brazilian BPO Unit - Nearshore Americas |url=https://nearshoreamericas.com/pwcs-spins-brazilian-bpo-unit/ |access-date=2024-05-14 |language=en}}</ref>
On 27 October 2017, TMF Group was acquired by Europe's largest private equity firm CVC Capital Partners for €1.75 billion.<ref>{{Cite web|url=https://www.tmf-group.com/en/news-insights/press-releases/2017/october/tmf-cvc-acquisition/|title=TMF Group Acquired by CVC Capital Partners|date=27 October 2017}}</ref><ref>{{Cite web|url=https://www.cvc.com/media/news/2017/2017-10-27-cvc-fund-vii-agrees-to-acquire-tmf-group/|title=CVC Fund VII agrees to acquire TMF Group|work=CVC Capital Partners SICAV-FIS SA | date=27 October 2017}}</ref>
In 2018, the Dutch supervisor De Nederlandsche Bank (DNB) imposed a EUR 594,000 fine on TMF for insufficient due diligence in the management of an entity which lent US$850 million to Mozambique parties, earmarked for a tuna fishery. Loan funds were embezzled or used by Defence.<ref>{{cite web | url=https://www.barrons.com/news/dutch-company-to-pay-fine-for-facilitating-mozambique-debt-scandal-01619516712#:~:text=Dutch%20financial%20regulator%20De%20Nederlandsche%20Bank%20%28DNB%29%20in,its%20involvement%20in%20Mozambique%27s%202013-2014%20%22hidden%20debt%20scandal%22 | title=Dutch Company to Pay Fine for Facilitating Mozambique Debt Scandal }}</ref> TMF Group's 2021 appeal against the ruling was unsuccessful.<ref>{{cite web|url=https://allafrica.com/stories/202108120532.html|title=Mozambique: Dutch Company Fined for Role in 'Hidden Debts'|accessdate=11 August 2021|website=AllAfrica}}</ref> In 2023 followed an EUR 3,125,000 fine for insufficient Customer Due Diligence; out of the eight investigated files seven were not in good order.<ref>{{cite web | url=https://www.dnb.nl/en/sector-news/enforcement-measures-2023/fine-for-trust-office-tmf-netherlands-b-v-for-insufficient-customer-due-diligence/ | title=Fine for trust office TMF Netherlands B.V. For insufficient customer due diligence }}</ref><ref>[https://www.dnb.nl/media/asmjntwh/boetebesluit-tmf-netherlands-bv.pdf Decision to impose an administrative fine] (in Dutch). ''dnb.nl,'' Retrieved 14 May 2024</ref>
In July 2022, CVC Capital Partners sold a near-50 per cent stake to the Abu Dhabi Investment Authority sovereign wealth fund, which will take a seat on TMF’s board. The deal valued the company at about €3 billion.<ref>{{Cite web|url=https://www.ft.com/content/3f42e303-40df-4589-86e6-84d1642c06ef|title=Private equity firm CVC sells TMF Group stake to its own fund|work=Financial Times|date=25 July 2022}}</ref>
In 2023, TMF Group completed a series of acquisitions in Ireland (Goodbody),<ref>{{Cite web |date=2023-04-05 |title=TMF Group to acquire Goodbody Fund Management |url=https://www.simmons-simmons.com/en/about-us/news/tmf-group-to-acquire-goodbody-fund-management |access-date=2025-08-07 |website=www.simmons-simmons.com}}</ref> India (KPK faServ),<ref>{{Cite web |date=2024-04-17 |title=TMF Group bolsters its presence in India by acquiring Seamless Global |url=https://www.tmf-group.com/en/news-insights/press-releases/tmf-india-acquired-seamless-global/ |access-date=2025-08-07 |website=TMF Group |language=en}}</ref> Malta (Avanzia Taxand),<ref>{{Cite web |date=2024-10-24 |title=Surrender of Authorisation by Avanzia Taxand Limited |url=https://www.mfsa.mt/publication/surrender-of-authorisation-by-avanzia-taxand-limited/ |access-date=2025-08-07 |website=MFSA |language=en-US}}</ref> Greece (Premier Consulting),<ref>{{Cite web |last=Duma |first=Corina |date=2023-11-08 |title=TMF Group acquires Premier Consulting in Greece |url=https://www.accountancytoday.co.uk/2023/11/08/tmf-group-acquires-premier-consulting-in-greece/ |access-date=2025-08-07 |website=Accountancy Today |language=en-GB}}</ref> and Romania (Contexpert),<ref>{{Cite web |last= |date=2023-12-18 |title=DLA Piper assisted TMF Group in the acquisition of Contexpert, supplier of accounting services {{!}} Lawyers Week |url=https://lawyersweek.net/23033/dla-piper-assisted-tmf-group-in-the-acquisition-of-contexpert-supplier-of-accounting-services.html |access-date=2025-08-07 |language=en-US}}</ref> contributing approximately €12.4 million in additional revenue and €13.3 million in goodwill.<ref>{{Cite web |date=2024-03-07 |title=Annual report 2023 |url=https://annualreport.tmf-group.com/annual-report-2023/notes-to-the-consolidated-financial-statements/15-business-combinations?utm_source=chatgpt.com |access-date=2025-08-07 |website=annualreport.tmf-group.com}}</ref>
In January 2025, TMF Group acquired the BPS (business process services) division of RSM. This transfer further expands the firm's compliance and administrative services in Latin America and Brazil.<ref>{{Cite web |date=2025-01-09 |title=TMF Group acquires Brazilian BPS business from RSM |url=https://www.consultancy.lat/news/1332/tmf-group-acquires-brazilian-bps-business-from-rsm |access-date=2025-08-04 |website=www.consultancy.lat |language=en}}</ref><ref>{{Cite web |last= |date=2025-01-17 |title=Two firms act on the acquisition of RSM BPS by TMF Group |url=https://thelatinamericanlawyer.com/two-firms-act-on-the-acquisition-of-rsm-bps-by-tmf-group/ |access-date=2025-08-04 |website=The Latinamerican Lawyer |language=en-US}}</ref>
In July 2025, TMF Group partnered with the international banking network, IBOS Association (IBOS), with the aim to support cross-border operations and widen client access to global markets.<ref>{{Cite web |last=Choudhary |first=Zarah |date=2025-07-22 |title=TMF Group partners with IBOS Association - Asset Servicing Times |url=https://www.assetservicingtimes.com/assetservicesnews/industryarticle.php?article_id=16962 |access-date=2025-08-04 |website=www.assetservicingtimes.com}}</ref>
== Operations and services == TMF Group provides professional services focused on global compliance, payroll, accounting, and fund administration.{{cn|date=November 2025}}
In the area of payroll services, TMF Group was ranked as a "Leader" in the 2023 and 2024 editions of the Multi-Country Payroll (MCP) Solutions PEAK Matrix Assessment conducted by Everest Group. The firm was recognized for the breadth of its services and its ability to deliver payroll solutions across a large number of jurisdictions.<ref>{{Cite web |date=2024-11-01 |title=Everest Group Multi-country Payroll (MCP) Solutions PEAK Matrix Assessment 2024 |url=https://www.ey.com/content/dam/ey-unified-site/ey-com/en-gl/about-us/analyst-relations/documents/ey-everest-group-multi-country-payroll-solutions-peak-matrix-assessment-01-2025.pdf |access-date=2025-08-07}}</ref><ref>{{Cite web |date=2023-10-01 |title=Everest Group Multi-Country Payroll (MCP) Solutions Peak Matrix Assessment 2023 |url=https://www.ey.com/content/dam/ey-unified-site/ey-com/en-gl/about-us/analyst-relations/documents/ey-everest-group-multi-country-payroll-mcp-solutions-peak-matrix-assessment-2023-focus-on-ey.pdf |access-date=2025-08-07 |website=}}</ref>
==References== {{reflist}}
==External links== *[http://www.tmf-group.com/ TMF Group]
Category:Financial services companies established in 1988 Category:Consulting firms established in 1988 Category:Accounting firms Category:Financial services companies of the Netherlands Category:International management consulting firms Category:Companies based in Amsterdam Category:Management consulting firms of the Netherlands Category:1988 establishments in the Netherlands Category:Companies established in 1988 Category:CVC Capital Partners companies