Bowmark Capital completed the acquisition of Tax Systems for £114m.

Bowmark Capital, the mid-market private equity firm, has completed the take-private of AIM-listed Tax Systems, the leading provider of corporate tax software and services in the UK and Ireland. The transaction values Tax Systems at £114m ($150m). The 115 (152 cents) pence per share price represents a premium of approximately 14.4% to the closing price on 6 February 2019. “We have been tracking the company for a number of years and are delighted to be supporting Gavin Lyons and his team. Tax Systems has an enviable position as a trusted partner to the majority of the UK’s largest corporates and accounting firms. We look forward to supporting the team as they capitalise on the opportunities arising from the digitilisation of tax compliance,” Charles Ind, Bowmark managing partner.