TMF Group, which helps set up "trust companies" for multinationals and provides legal, tax and accounting advice, said it is reviewing strategic options including an initial public offering of shares or a sale of the group. In a notice on its website, the trust group said it had hired Goldman Sachs to advise it on the strategic decision.
The largest Dutch trust manager, Intertrust, went public in 2015. Analysts predict a wave of consolidation in the industry as the business of servicing "mailbox" companies has come under scrutiny for the role it plays in helping multinationals avoid taxes. TMF's notice of intent was posted on its website on March 3 and first reported by De Telegraaf newspaper on Friday. TMF had revenue of 119 million euros in the third quarter of 2015, according to figures posted on its website. TMF is currently owned by private equity firm Doughty Hanson.