Ryan Acquisition, Valuation, Funding & Investors

Ryan was acquired by Neuberger Berman Capital Solutions for $8.2B in January 2026.

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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

Ryan Overview

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

United StatesDallas, TX

Website

ryan.com

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.

Ryan acquisition details
AcquirerDateTypePrice
  • Neuberger Berman Capital Solutions
14 Jan 2026PE 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

Ryan valuation by funding round
DateStageValuation
Oct 2018Undisclosed stage$1.1B

Ryan Funding History

Ryan has raised a total of $317M across 1 funding round.

Ryan funding rounds

Ryan funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Oct 2018Undisclosed stageOnex (lead)$317M$1.1BRyan 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

Investors in Ryan by funding rounds participated
InvestorHQRoundsRoleFirst check

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions 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

Svalner Atlas
Hucke & Associates
WYM Rating
WYM Real Estate
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 CountrySwedenUnited States-United Kingdom
HQ City
Stockholm
New York City, NY
-
-
Deal Date31 May 20263 Mar 20265 Feb 20265 Feb 2026
Valuation$400Mundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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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

Incentify
Incentify
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 CountryUnited StatesUnited States
HQ City
Los Angeles, CA
Los Angeles, CA
Deal Date2 Apr 202515 Sep 2020
RoundSeries AStrategic investment
Raised$10M$4M
InvestorsGary Gilbert; Innovent Capital Group-
Valuationundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Ryan Competitors

Ryan competitors include listed companies like Andersen Group, BayCurrent, Booz Allen and Gartner, and private ones like CREED and Aledade.

Public and private companies comparable to Ryan
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Andersen GroupUnited StatesUnited StatesPublicly listed$839M($121M)$6.2B7.6x
BayCurrentJapanJapanPublicly listed$954M$327M$7.4B6.3x
Booz AllenUnited StatesUnited StatesPublicly listed$11B$1.2B$9.5B1.2x
CREEDUnited StatesNew York City, NYPrivate--$6.4B-
GartnerUnited StatesUnited StatesPublicly listed$6.5B$1.2B$12B2.1x
AledadeUnited StatesWashington, DCPrivate$475M-$3.5B7.4x

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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
BayCurrent$954M$327M7.3x6.3x21.4x18.1x
Booz Allen$11B$1.2B1.2x1.2x10.6x10.5x
Andersen Group$839M($121M)8.6x7.6x(59.9x)29.7x
H&R Block$3.9B$1.1B1.7x1.7x6.3x6.2x
DKSH Holding$13B$532M0.4x0.4x10.5x9.5x
Sweco$3.2B$475M1.7x1.6x11.3x11.8x
Gartner$6.5B$1.2B2.1x2.1x11.1x8.5x
FTI Consulting$3.8B$435M1.3x1.3x11.4x11.1x

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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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