Ryan LLC has acquired AEC Property Tax Inc, a Toronto-based property tax consulting business, for an undisclosed amount.
Founded in 1973, AEC and its affiliates provide property tax solutions to companies in Canada’s commercial, hospitality, industrial, manufacturing, mining, oil and gas, power and retail sectors.
The company’s team, led by CEO Gary Newell and President Robert Gagne, will join Ryan.
Ryan, a Dallas-based tax services and software provider, said the deal expands its market position, client portfolio and service capabilities in Canada.
Last year, Canadian private equity firm Onex Corp acquired a 42 percent interest in Ryan for US$317 million.
Ryan Expands Presence in Canada with Acquisition of AEC Property Tax Inc.
July 02, 2019
DALLAS & TORONTO–(BUSINESS WIRE)–Ryan, a leading global tax services and software provider, announced today it has acquired AEC Property Tax Inc., Canada’s largest privately owned property tax consulting firm, and its subsidiaries. This acquisition significantly expands Ryan’s market position, client portfolio, and depth of client service capabilities in Canada.
“Ryan has operated in Canada for decades with a strong record of steady growth,” said Ryan Chairman and CEO G. Brint Ryan. “AEC’s expertise in Canadian property tax and reputation for delivering stellar client service are firmly established in the industry. With this acquisition, we are building on our successful track record of acquiring and integrating companies with shared purpose and complementary capabilities to increase the value and innovative solutions we bring to our clients worldwide.”
According to Ryan’s President of Canadian Operations Garry Round, bringing AEC into the Ryan family will pave the way for an incredible expansion of the two firms’ combined services and provide great career opportunities for all employees. “As the largest Property Tax practice in North America, we are enhancing our existing capabilities and Firm talent across all major markets in Canada. This acquisition positions our two companies to become a single resource to multinational clients with challenges in other areas of taxation, regardless of the jurisdiction.”
Founded in 1973, AEC provides comprehensive property tax solutions for companies throughout Canada in the commercial, hospitality, industrial, manufacturing, mining, oil and gas, power, and retail sectors. Based in Toronto, AEC has offices in Calgary, Edmonton, Halifax, Montreal, Ottawa, and Vancouver. With this acquisition, Ryan, which currently has offices in Calgary, London, Mississauga, and Montreal, expands its presence to include all major Canadian markets.
“Becoming a part of Ryan brings many benefits to our clients and employees,” said AEC Chief Executive Officer Gary Newell. “The Firm’s strong values and deep expertise have continuously delivered positive outcomes for their clients. This is an exciting time in our history. We are proud to join forces with the largest Firm in the world dedicated exclusively to business taxes and are excited to be able to provide a full suite of integrated services globally to our clients throughout Canada and beyond.”
Included in the transaction are the AEC Property Tax Inc. subsidiaries, AEC Valuation Advisory, Inc. and AEC SYMMAF Inc.
Gary Newell, AEC chief executive officer; Robert Gagne, president; and their team of more than 70 professionals and associates will join Ryan. Robert Gagne will become Principal, Practice Leader, Property Tax, and lead the combined practice at Ryan. Newell will transition into Principal, Senior Vice President, Corporate Development, Canada. In this new role, he will work with Garry Round to continue Ryan’s strong organic and acquisition growth across Canada.
Ryan, an award-winning global tax services and software provider, is the largest Firm in the world dedicated exclusively to business taxes. The Firm provides an integrated suite of federal, provincial, and international tax services on a multijurisdictional basis, including tax recovery, consulting, advocacy, compliance, and technology services. Ryan is a seven-time recipient of the International Service Excellence Award from the Customer Service Institute of America (CSIA) for its commitment to world-class client service. Empowered by the dynamic myRyan work environment, which is widely recognized as the most innovative in the tax services industry, Ryan’s multidisciplinary team of more than 2,500 professionals and associates serves over 14,000 clients in more than 50 countries, including many of the world’s most prominent Global 5000 companies. More information about Ryan can be found at ryan.com/canada. “Ryan” and “Firm” refer to the global organizational network and may refer to one or more of the member firms of Ryan International, each of which is a separate legal entity.