We are excited to announce that HgCapital, a leading European-based private equity firm, has signed an agreement to invest in Sovos Compliance. Their investment will help us accelerate our growth through development and acquisition of innovative tax compliance solutions worldwide.
HgCapital selected Sovos for a key US-based investment
HgCapital uses a proven, sector-focused approach for investing in leading global providers of regulatory-driven software, which makes Sovos an excellent fit. HgCapital is the right partner at the right time to build on our extensive momentum and accelerate the expansion of our global business.
Implications for Sovos
We aim to be a trusted partner for companies navigating today’s dynamic global regulatory environment. The HgCapital partnership allows us to further our commitment to growth and the international expertise to rapidly advance the development of our tax compliance and reporting platform.
Over the past few years, Sovos has shown its commitment to growth and development with the launch of major enhancements to its Sales Tax and VAT solutions, 1099 Reporting capabilities, and most recently release of solutions for ACA and AEOI for FATCA/CDOT/CRS compliance, in addition to the acquisition of ShipCompliant for beverage alcohol compliance.
Vista Equity Partners remains an important shareholder, retaining a significant minority stake in Sovos Compliance.
Interested in how Sovos can craft a solution for your unique tax compliance needs? Contact us today.