TMF Group, a leading provider of high value business services to clients operating and investing globally, is pleased to announce the acquisition of Extor, an accounting and payroll services provider in Poland.
Founded in 2005, Extor has grown its team to 140 employees delivering effective accounting, tax compliance, payroll and HR administration services, to established corporates, as well as businesses looking to enter the region.
Headquartered in Warsaw, Extor is managed by CEO Patrycja Strzelecka, who will remain involved with the business following completion of the acquisition.
The acquisition of Extor will double TMF Group’s presence in Poland, and with a similar client portfolio it enhances the ability to invest in and grow operations in the country.
TMF Group funded the acquisition from existing cash resources. The financial terms of the transaction have not been disclosed.
Patrycja Strzelecka, CEO of Extor, commented: “Becoming part of TMF Group facilitates our growth in Poland. TMF Group is a natural fit; there is a thorough understanding of the business and industry, as well as a vision for excellence in compliance. I look forward to being part of this new and exciting team, taking the next step to combine our specialist skills with TMF Group’s global reach.”
Daniel Proychev, Regional Director for CEE at TMF Group, commented: “The Central Eastern European region is a key growth area for TMF Group. Extor is one of the fastest growing providers of accounting and payroll services in this market, making the acquisition an excellent fit; it is led by a high quality team with long term blue chip client relationships. I am delighted to welcome Patrycja and the team to TMF Group, and look forward to working with them.”
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For further information, please contact:
Director of Communications, TMF Group
+44 (0)20 7832 8954
About TMF Group:
TMF Group is a leading global provider of high value business services to clients operating and investing globally. It focuses on providing highly specialised and business-critical financial, legal and human resource administrative services that enable clients to operate their corporate structures, finance vehicles and investment funds in different geographical locations. TMF Group has operations in more than 80 counties across the Americas, Asia Pacific, Europe and the Middle East.
Extor provides accounting, tax, HR administration and payroll outsourcing services to Polish entities, companies with foreign capital and representative offices of multinational corporations. It combines professional competences with innovative IT solutions serving its clients in eight European languages.