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09/2026

Navigator Partners acquired by TMF Group

FINLAND Professional Services / Consulting & Audit / Accounting & Audit REV 1m EUR - 100m EUR

Context

TMF Group's acquisition of Navigator Partners marks the cross-border integration of the Finnish administrative services firm into the international corporate services group. The share purchase transaction establishes a direct operating presence in Finland for the buyer, incorporating an established domestic portfolio of more than 800 clients comprising regional private equity houses, family offices, institutional foundations, asset managers, and commercial real estate owners. Under the governance arrangements agreed for the transaction, executive leadership remains in place, with Chairman Jan Haglund and Chief Executive Officer Sonja Kangas continuing to oversee regional operations and client integration under the leadership of TMF Group Head of Europe Jan Willem van Drimmelen. The strategic rationale articulated by the acquiring entity focuses on expanding its specialized financial services footprint across the Nordic markets, deploying localized fund and foundation administration capabilities alongside its traditional cross-border entity management services. By onboarding the target's proprietary portfolio reporting platform Compass, the buyer integrates customized client reporting software directly into its technology stack, broadening its operational toolkit for wealth management and private equity accounts. The structural consolidation provides the target entity with access to the parent company's multi-jurisdiction infrastructure, enabling local Nordic clients to coordinate international statutory compliance, accounting workflows, and multi-asset governance through a single administrative network. The transaction formalizes the entry of the international administrative group into Finland's institutional fund administration and family office management market.

Navigator Partners, which reported an EBITDA margin of in 2026, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with the average currently observed in the Business Services sector (11.5x).

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Target

Navigator Partners operates as an authorized provider of fund administration, investor services, and foundation management for corporate and institutional clients across the Nordic region. The company structures its service delivery around dedicated fund administration workflows, statutory accounting, periodic financial reporting, payroll coordination, real estate asset administration, and corporate tax compliance. Co-directed by Chairman Jan Haglund and Chief Executive Officer Sonja Kangas, the Finnish business operates through a dedicated team of 50 financial specialists. Its commercial offering centers on supporting private equity vehicles, alternative investment funds, single and multi-family offices, asset managers, institutional foundations, and commercial property owners with localized back-office operations. To standardize reporting protocols across disparate asset portfolios, the firm engineers and maintains Compass, a proprietary portfolio reporting software platform. This technical architecture combines statutory accounting routines with customizable investor dashboards to streamline reporting cycles and regulatory compliance. The firm's operating framework coordinates specialized domestic administrative obligations with structured data governance, assisting Nordic asset holders and regional fund sponsors in maintaining compliance with Finnish administrative standards.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2026
2025

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REFERENCES

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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Target: navigator partners

Acquirer: tmf group