Daily News: January 23, 2012

BofA, Others Close $100 Million Credit Facility for Ryan

Ryan, a global tax services firm with the largest indirect tax practice in North America, announced that it has secured a $100 million (expandable to $135 million) syndicated credit facility led by Bank of America and including Comerica Bank, Citibank and Fifth Third Bank.

This new credit facility will provide additional capital to support the firm’s growth and international expansion, as well as fund unique market opportunities to strategically strengthen the firm’s market share position.

In just 20 years, Ryan has become the seventh largest tax services firm in the United States, with a premier client portfolio of more than 6,500 global corporations in 40 countries. In the 2011 Accounting Today Top 100 Tax and Accounting Firms ranking, Ryan was the best performing corporate tax services firm based on year-over-year revenue growth.

“This credit facility demonstrates the fiscal strength of our Firm and the confidence Ryan has earned within the financial community,” said Tony G. Mills, president of Ryan. “This will enable us to successfully execute our strategic growth plan and pursue significant acquisitions for continued domestic and international expansion.”

“Our demonstrated history of increasing annual revenue and profitability during high-velocity growth played a key role in securing a credit facility of this size,” said G. Brint Ryan, CEO and managing principal of Ryan. “This will support our ability to provide superior results and world-class client service to an expansive base of premier Global 5000 companies.”