TP Tuned, a boutique specializing in transfer pricing automation based in Amsterdam, has entered into a partnership with the investment firm Vortex Capital Partners.
Vortex will support TP Tuned’s ambition to become "the leading provider of transfer pricing documentation services and software", a statement on 5 August said, with Vortex assisting in "expanding the company’s offerings across global markets".
TP Tuned was established in 2015 to address the need of large multinationals for a more efficient approach to transfer pricing, with a particular focus on automating transfer pricing documentation. Transfer pricing regulations aim to ensure that multinationals report a fair amount of profits in the countries where they operate. To evidence that profits are allocated fairly, multinationals are required to prepare complex annual documentation, involving significant time and costs.
TP Tuned enables the automated preparation of complete, consistent, and locally compliant transfer pricing documentation. The company with its 20 team members serves many multinationals around the globe, including companies such as TomTom, Stahl, Avnet, Ravago and Stanley Black & Decker.
Together with Vortex, which will become a majority shareholder alongside management, the company plans to invest significantly in expanding its business internationally—both organically and potentially through new acquisitions. Additionally, TP Tuned aims to continue enhancing its proprietary software with additional functionalities.
Lennart van den Kommer, CEO of TP Tuned said: “TP Tuned has a proven offering and a loyal customer base. Together with Vortex, we can serve more clients in additional countries and expand our software offering. Vortex brings extensive experience and expertise that will support our growth. I am excited to collaborate with the Vortex team and look forward to this next phase of growth.
Evert Jan de Groot, managing partner at Vortex said: “The proprietary software, combined with TP Tuned’s deep knowledge of transfer pricing, makes the company both relevant and appealing. Over the years, TP Tuned has proven to be a valuable partner for its international clients.
"We are eager to collaborate with the TP Tuned team to support their continued growth in the coming years. Our strategy is to leverage this partnership to drive innovation and broaden our international presence, ensuring that TP Tuned remains at the forefront of the industry.”
