Case Studies
Universal Tax Systems, Inc.
Company:
Universal Tax Systems (UTS) provides tax preparation software and transaction processing services to professional tax preparers, CPA’s and the IRS
Situation:
UTS’ founders wished to monetize the majority of their holdings and to transition out of day-to-day leadership of the company
Primus’ Role:
- Sponsored a control buyout of UTS, providing liquidity to the founders
- Teamed with Bill Anderson, CEO, to recruit key personnel in areas of finance, marketing and product development
- Worked with management to establish strategic priorities and implementation plan
- Led dividend recapitalization financing
- Financed new growth platforms including tax training and financial product distribution
- Advised the company through the sale process
Growth:
UTS grew revenue by over 30% and EBITDA by nearly 100% during Primus’ two-year partnership
The Outcome:
Primus and management maximized value and generated liquidity by completing a dividend recapitalization and subsequently running a targeted sale process directed at strategic buyers that resulted in a sale of UTS to CCH, a division of Wolters Kluwer
