Skip to content
Published
11 December 2019
Read time
3 minutes

TMF Group acquisition paves the way for new opportunities along the China-German economic corridor

Financial center Shanghai

TMF Group, a leading provider of international business administration services, has acquired Ecovis R&G Consulting Ltd. (‘Ecovis Beijing’) in a deal that adds significant strength to its cross-border investments proposition – particularly for those flowing between China and Germany.

The acquisition, which is now completed, is part of a strategic push by TMF Group to continue to grow its footprint in China and will see Ecovis Beijing’s 40-plus team of professionals join forces with its existing teams in its offices in Beijing and Tianjin.

Ecovis Beijing, has built an enviable track record in providing tax and compliance services for small and medium sized companies (SMEs) with operations in both China and Germany since it was founded in 2012.

TMF Group has been expanding its services portfolio in China for several years now, and this forms another exciting chapter in that story.

“Our focus on growth is driven by the fact that we remain bullish about the Chinese economy and the potential it offers for foreign investors,” he added. “The Ecovis team has great experience in supporting the ‘Mittelstand’ pool of SME businesses known for being the key drivers behind the German economy – which makes this acquisition a pertinent part of our growth strategy.

“Germany is one of the largest investors in China and having our new colleagues onboard helps strengthen our position as a key player in supporting the growing number of cross-border investment opportunities that pass through that China-German economic corridor.

Thun Lee Head of TMF Group in China

There was a natural affinity already in place, which makes this deal such a good fit for us.

Richard Hoffmann Partner and Co-Founder at Ecovis Beijing

TMF Group is unrivalled when it comes to geographic scope and range of administration services needed to successfully set up and operate around the world. We look forward to playing our part in building that proposition, working with our new colleagues and continuing to support German, European and other international businesses with their investments in China, and vice versa.

Grace Shi Partner and Co-Founder of Ecovis Beijing

 ENDS 

About TMF Group

TMF Group is a leading provider of critical administrative services, helping clients invest and operate safely around the world. Our 10,000 experts and 125 offices in 86 jurisdictions worldwide serve corporates, financial institutions, asset managers, private clients and family offices, providing the combination of accounting, tax, payroll, fund administration, compliance and entity management services essential to global business success.

We work with 60% of the Fortune Global 500 and FTSE 100, and almost half the top 300 private equity firms, covering sectors as diverse as capital markets, private equity, real estate, pharmaceuticals, energy and technology.

TMF Group – we make a complex world simple. www.tmf-group.com

About Ecovis

Ecovis is a leading global consulting firm with its origins in Continental Europe. It has over 7,500 people operating in over 75 countries. Its consulting focus and core competencies lie in the areas of tax consultation, accounting, auditing and legal advice. https://www.ecovis.com/en/

Media Contacts

TMF Group:
Giampaolo Arghittu, Senior Global External Communications Manager, 
giampaolo.arghittu@tmf-group.com 
T: +39 334 947 95 84