In 2023, Altus’ property tax business generated revenues of CA$263 million. The Ryan and Altus $513M tax deal promises to merge this strong performance with Ryan’s extensive global network.
Altus’ Strategic Moves and Future Focus
Altus announced in a separate statement its plans to use the deal proceeds to invest in its analytics business unit, initiate a CA$250 million share buyback program, and pay down debt. Jim Hannon, CEO of Altus, emphasized that the transaction will enable Altus to concentrate on other core growth opportunities.
“This transaction allows Altus Group to focus on the substantial growth opportunities in our core Analytics business while ensuring our property tax clients will continue to be well serviced by Ryan’s leading capabilities,” Hannon said. “We believe Ryan is the best strategic fit for our Property Tax business, and we’re confident our clients will benefit from the expanded tax service offerings Ryan can provide them.”
Key Legal Teams
The Kirkland team leading the Ryan and Altus $513M tax deal included corporate partners Melissa Kalka, Doug Bacon, and Garett Morin; debt finance partners Rachael Lichman, Tom Dobleman, and Purun Cheong; and tax partners David Wheat, Joe Tobias, and Ed Moberly. Additional details on the deal team were not immediately available.
