PwC sells Brazilian Outsourcing Division to TMF
Acquisition marks a significant step in the expansion of TMF Group’s operations in Latin America.
TMF Group, a leading provider of high value Global Business Services to clients operating and investing internationally, has concluded the acquisition of Apriori, the outsourcing division of PwC Brasil, PwC’s local partnership in Brazil.
The acquisition will strengthen and consolidate TMF Group’s existing platform in Brazil, increasing the breadth and depth of its business services offering, while also benefitting from the addition of Apriori’s specialist technology.
Apriori was established in 2000, as the business process outsourcing division of PwC Brasil providing a full set of BPO services including finance and accounting, human resources, tax and compliance. Since then it has grown to a business of over 500 people, working from three offices in Barueri, Rio de Janeiro and Ribeirão Preto.
According to TMF Group’s Head of Americas, Luigi Garlati, the acquisition will have a positive impact for businesses not just in Brazil but across the Americas. “The market for professional services in Brazil continues to grow year-on-year and this deal marks an important stage in the development of our business. Combining Apriori’s specialist skills, local knowledge and high quality client base with TMF Group’s truly global footprint, in over 80 countries, is hugely exciting for both us and our clients.”
Frederik van Tuyll, interim Chief Executive of TMF Group, added: “The Americas, and Brazil in particular, is a key growth area for our business. This acquisition builds on our existing portfolio of services and provides an excellent operational fit – offering TMF Group clients unrivalled service capability in the region, and exciting new career opportunities for our Brazilian colleagues.”
The financial terms of the transaction have not been disclosed.
Source: TMF
