Neuberger minority stake to accelerate Ryan's global tax software

Neuberger Berman Capital Solutions, together with funds managed by Neuberger Berman Private Markets, has agreed to take a meaningful minority equity position in Ryan, LLC, the Plano-based tax advisory and software group. The move brings an additional institutional partner alongside existing shareholders Onex Partners and Ares Private Equity Funds, and is structured to support Ryan's next stage of global expansion.

The deal leaves founder G. Brint Ryan and the current management team in operational control; the leadership will continue to run day-to-day operations while the new capital is deployed to scale consulting services, extend software capabilities and pursue selective market entry. Completion is subject to regulatory approvals and customary conditions, with parties targeting a closing in the first half of 2026.

Founded as a specialist in business taxes, Ryan combines advisory and proprietary technology to serve multijurisdictional tax needs. The Firm reports more than 7,100 professionals and serves over 74,000 clients across more than 80 countries. The investment from Neuberger is intended to accelerate product development across the company's software stack and expand its international consulting footprint.

Private capital has been increasingly active in professional services and business software: investors are betting on structural tailwinds including regulatory complexity, greater scrutiny of tax filings, and continued digital transformation of tax functions. Vendors that pair deep domain knowledge with scalable software tend to command premium valuations; recent market activity shows private equity groups are prioritising platform companies that can roll up adjacent services and embed recurring SaaS revenues.

Executives from the investor group framed the agreement as a long-term partnership. David Lyon, Head of Neuberger Berman Capital Solutions, highlighted the intersection of tax expertise and technology as a differentiator, while Amir Motamedi of Onex Partners and Matt Cwiertnia of Ares Private Equity reiterated continuity of strategy and management. The statement from Ryan emphasizes investment in people and technology as core uses of the new capital.

Financial and legal advisors to the parties were disclosed: BofA Securities and J.P. Morgan Securities LLC advised Ryan, with Kirkland & Ellis LLP providing legal counsel; RBC Capital Markets and Goldman Sachs & Co. LLC advised Neuberger, with legal work by Latham & Watkins LLP. While terms were not publicly disclosed, the structure—a minority stake from a long-term private markets investor alongside incumbent sponsors—mirrors transactions where capital is deployed to fund product investment and cross-border expansion rather than management turnover.

For corporate tax advisers and software providers, the transaction underscores continued appetite among institutional investors for specialist professional services platforms that can broaden SaaS exposure. If executed as described, the partnership should provide Ryan with both the balance-sheet flexibility and strategic backing to pursue convergent service-and-software growth in a market where regulatory change and digital adoption are strong demand drivers.