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- Ryan
Ryan Acquisition, Valuation, Funding & Investors
Ryan was acquired by Neuberger Berman Capital Solutions for $8.2B in January 2026.
Ryan acquisition price
$8.2B
Acquired by Neuberger Berman Capital Solutions · Jan 2026
Cumulative funding Ryan raised
$317M
across 1 funding round
Key investors in Ryan
About Ryan
Ryan is a Dallas-headquartered tax advisory and consulting firm serving multinational corporations. The company specializes in state and local tax compliance, audit defense, controversy resolution, credits and incentives recovery, and process automation. Ryan assists with federal and international tax planning across jurisdictions in North America, Europe, and Asia. Founded in 1948, it maintains over 75 offices worldwide.
Founded
1991
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Services
Valuation
$1.1B (Oct 2018)
Ryan Acquisition
Ryan was acquired by Neuberger Berman Capital Solutions for $8.2B on 14 January 2026.
Before the acquisition Ryan had raised $317M across 1 funding round.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 14 Jan 2026 | PE buyout | $8.2B |
Ryan Valuation
Ryan is currently valued at $1.1B, based on its undisclosed-stage round in October 2018.
The $317M round was led by Onex.
Ryan valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Oct 2018 | Undisclosed stage | $1.1B |
Ryan Funding History
Ryan has raised a total of $317M across 1 funding round.
Ryan funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Oct 2018 | Undisclosed stage | Onex (lead) | $317M | $1.1B | Ryan LLC is a Dallas-based global tax services and software provider. On October 17, 2018, Onex Corporation announced it acquired a 42% interest in Ryan for $317 million, valuing the company at $1.1 billion. This investment was made through Onex Partners IV, with Onex contributing $86 million of equity as a limited partner. The deal positions Onex as an ideal partner for Ryan, given its track record in growing companies and supporting management teams. Ryan's founder, Chairman, and CEO G. Brint Ryan highlighted recent business expansions, including new service lines and growth in premium clients, with plans to continue this momentum using Onex's backing to enhance client value. Following the investment, Ryan pursued growth through acquisitions, such as buying VAT Systems shortly after and Economics Partners LLC, a Denver-based provider of transfer pricing advisory, controversy, and business valuation services. BofA Merrill Lynch advised Onex financially, with Fried Frank as legal counsel, while Baker McKenzie advised Ryan. Onex, a Toronto-based firm, manages significant assets and had recently raised its $7.15 billion Onex Partners V fund. |
Who has invested in Ryan?
1 investor has backed Ryan across its funding rounds, including Onex.
Lead investors include Onex.
Ryan Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
This data is available for Pro users. Sign up to see all 1 Ryan investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Ryan
Ryan has acquired 28 companies to date.
Last acquisition by Ryan was on May 31st 2026. Ryan acquired Svalner Atlas for $400M.
Latest Acquisitions by Ryan
| Description | Svalner Atlas is an independent tax services and software provider. | Hucke & Associates handles property tax appeals for real estate owners to achieve fair taxation. | WYM Rating is the rating division of WYM Real Estate, providing specialized assessments for real estate investments and properties to support informed decision-making in the sector. | WYM Real Estate is a UK property advisory firm providing services in commercial real estate, including acquisitions, sales, development, lease advisory, and business rates management. | |
| HQ Country | - | ||||
| HQ City | Stockholm | New York City, NY | - | - | |
| Deal Date | 31 May 2026 | 3 Mar 2026 | 5 Feb 2026 | 5 Feb 2026 | |
| Valuation | $400M | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all Ryan acquisitions and their M&A valuation multiples. Start Free Trial | |||||
Investments by Ryan
Ryan has invested in 1 company to date.
Latest investment by Ryan was on April 2nd 2025. Ryan invested in Incentify in their $10M Series A round.
Latest Investments by Ryan
| Description | Incentify is a platform for discovering, applying, and managing tax credits and incentives related to employment, capital investment, and R&D. The software offers workflows and reporting for government-funded programs, serving businesses in economic development initiatives. | Incentify is a platform for discovering, applying, and managing tax credits and incentives related to employment, capital investment, and R&D. The software offers workflows and reporting for government-funded programs, serving businesses in economic development initiatives. |
| HQ Country | ||
| HQ City | Los Angeles, CA | Los Angeles, CA |
| Deal Date | 2 Apr 2025 | 15 Sep 2020 |
| Round | Series A | Strategic investment |
| Raised | $10M | $4M |
| Investors | Gary Gilbert; Innovent Capital Group | - |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Ryan investments and their VC round multiples. Start Free Trial | ||
Ryan Competitors
Ryan competitors include listed companies like Andersen Group, BayCurrent, Booz Allen and Gartner, and private ones like CREED and Aledade.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $839M | ($121M) | $6.2B | 7.6x | ||
| Publicly listed | $954M | $327M | $7.4B | 6.3x | ||
| Publicly listed | $11B | $1.2B | $9.5B | 1.2x | ||
| Private | - | - | $6.4B | - | ||
| Publicly listed | $6.5B | $1.2B | $12B | 2.1x | ||
| Private | $475M | - | $3.5B | 7.4x |
Ryan Public Comps
Ryan is no longer listed, but its public comps include BayCurrent, Booz Allen, Andersen Group, H&R Block, DKSH Holding, Sweco, Gartner, FTI Consulting, Elm and UL Solutions.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $954M | $327M | 7.3x | 6.3x | 21.4x | 18.1x | |||
| $11B | $1.2B | 1.2x | 1.2x | 10.6x | 10.5x | |||
| $839M | ($121M) | 8.6x | 7.6x | (59.9x) | 29.7x | |||
| $3.9B | $1.1B | 1.7x | 1.7x | 6.3x | 6.2x | |||
| $13B | $532M | 0.4x | 0.4x | 10.5x | 9.5x | |||
| $3.2B | $475M | 1.7x | 1.6x | 11.3x | 11.8x | |||
| $6.5B | $1.2B | 2.1x | 2.1x | 11.1x | 8.5x | |||
| $3.8B | $435M | 1.3x | 1.3x | 11.4x | 11.1x | |||
This data is available for Pro users. Sign up to see all Ryan competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Ryan
| When was Ryan founded? | Ryan was founded in 1991. |
| Where is Ryan headquartered? | Ryan is headquartered in Dallas, TX, United States. |
| Is Ryan publicly listed? | No, Ryan was acquired by Neuberger Berman Capital Solutions in January 2026. |
| Who acquired Ryan? | Ryan was acquired by Neuberger Berman Capital Solutions in January 2026. |
| How much was Ryan acquired for? | Ryan was acquired for $8.2B in January 2026. |
| What is Ryan's valuation? | Ryan was last valued at $1.1B in its undisclosed-stage round in October 2018. |
| How much funding has Ryan raised? | Ryan has raised $317M across 1 funding round. |
| What was Ryan's last funding round? | Ryan's last funding round was a $317M undisclosed-stage round in October 2018, led by Onex. |
| Who are Ryan's investors? | Ryan's investors include Onex. |
| Which companies are comparable to Ryan? | Companies comparable to Ryan include Andersen Group, BayCurrent, Booz Allen, CREED, Gartner and Aledade. |
| How many companies has Ryan acquired? | Ryan has acquired 28 companies, including Svalner Atlas, Hucke & Associates, WYM Rating, WYM Real Estate and Dhruva Advisors. |
| What was the largest acquisition by Ryan? | The $518M acquisition of Altus Group (property tax services unit) in July 2024 is the largest acquisition Ryan has made to date. |
| How many companies has Ryan invested in? | Ryan has invested in 1 company, including Incentify. |
| What was Ryan's last investment? | In April 2025, Ryan invested in Incentify's $10M Series A alongside Gary Gilbert and Innovent Capital Group. |
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