ME Newswire / Businesswire
SAN FRANCISCO - Tuesday, November 19th 2013
WTAS Global, the international unit of one of the largest independent tax firms providing a wide range of tax, valuation, financial advisory and related consulting services to individual and corporate clients, announced further expansion in Europe with Paris-based STC Partners, a business law firm with more than 80 attorneys and annual revenue of 19 million euros, joining as a member.
Founded in 2005, STC Partners, which provides full-service tax and legal advice to many of the wealthiest families and their businesses in France, as well as several locally based investment and private equity firms, will continue to operate autonomously and eventually rebrand itself WTAS France. The firm is led by Co-Managing Partners Hervè-Antoine Couderc and David de Pariente, both of whom will serve on the European Management Council for WTAS Global. France will be the coordinating seat for WTAS Global’s expansion in Europe.
WTAS Global first expanded into the European market in June 2013 when it joined forces with member firm PrimeTax AG, a tax-only firm based in Switzerland. With the addition of STC, WTAS Global now has more than 100 professionals in Europe providing an excellent launch pad for further growth and expansion.
"STC Partners is an outstanding firm with quality, like-minded professionals,” stated Mark Vorsatz, CEO of WTAS and Chair of WTAS Global Management Council. "We share a core value of stewardship for our professionals and a vision for creating ‘the global’ firm.”
"Through this global organization, we will enjoy the advantages of independence, introduce expanded services and reach to our clients, and accelerate our own growth at a double-digit rate with WTAS Global’s abundant resources,” said Hervé-Antoine Couderc of STC Partners. "The synergies are great within WTAS Global and our current and prospective clients will realize meaningful benefits.”
According to Delphine Bariani, Partner of STC Partners, "There was an immediate cultural fit and shared outlook with WTAS LLC and PrimeTax that made this venture an easy decision. The common value of stewardship at our firms enhances our best talent and our ability to provide top-notch service to our clients now and in the future. This is important to our clients and their family businesses, the backbone of France’s economy.”
According to Vorsatz, WTAS always intended to become a global organization, and with its significant organic growth, strong financial situation and growing international client base, the timing is right for expansion into Europe and beyond.
"Our growth is the byproduct of the service we provide to our clients,” said Vorsatz. "We founded the firm with the goal of placing clients at the center of our operating model and that continues as we expand internationally. WTAS Global members have a vested interest in one another’s success which ensures our clients will receive the highest quality solutions to meet their international needs regardless of jurisdiction.”
STC Partners also assists companies, whether private or listed, in connection with national or cross-border transactions. In addition, the firm advises private and family groups, their shareholders and executives as well as the management teams of major company groups, both listed and private, with diverse shareholding structures. Key sectors that STC Partners serves include agriculture and consumer goods distribution, energy, family businesses, financial services, pharmaceutical, communications, telecom, private equity, real estate and transportation.
WTAS Global has near-term plans to expand within other major European cities and expectations to reach Asia and Latin America in the future.
Since being founded in 2002, WTAS LLC has grown organically to become one of the leading independent tax firms with $150 million in annual revenue, more than 600 professionals in 16 U.S. cities, and an international presence in Europe through WTAS Global.
Megan Williams Tsuei, 415-762-6310