The opening of tax season is already paying big dividends for Augusta based TaxSlayer.
Marlin Equity Partners of Los Angeles is investing money and resources in TaxSlayer in exchange for stock in the company. No financial details of the transaction were released.
Brian Rhodes will remain the CEO of TaxSlayer.
“We know our success thus far has been in large part due to our employees and their commitment to serving our customers,” Rhodes said. “It is with this same dedication that we will enter this new phase.”
The approximately 200 full-time employees will remain at their Augusta headquarters on 945 Broad St. in the former YMCA building, and another 300 seasonal staff will continue to work remotely in Georgia and South Carolina.
Taxslayer sold its multi-million-dollar Evans building to the Columbia County government on Oc. 23, 2020.
TaxSlayer was appealing to Marlin for many reasons including a 50-year track record and the sheer volume of business done during the 2020 tax season.
Tax payers used TaxSlayer to file more than 10 million returns, representing $15 billion in refunds.
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According to a press statement from the equities company, Marlin is a global investment firm with more than $7.4 billion of capital under management and through its group of funds and related companies, has successfully completed over 170 acquisitions.
“We believe that TaxSlayer’s solutions are a compelling value proposition, and the company serves an important role in its mission to make affordable, high-quality tax preparation more accessible to the general public. We are thrilled to support the TaxSlayer team and bring our strategic, financial and operational resources to bear in expanding the company’s market presence and delivering further platform enhancements to its customers.” said Alex Beregovsky, a managing director at Marlin.
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TaxSlayer has two divisions including a DIY consumer tax product, which empowers American taxpayers to file their taxes quickly, conveniently, and confidently with support and guidance how they want it. It is a low-cost alternative to competitors Turbo Tax and H&R Block.
TaxSlayer Pro is the professional tax product that is used by more than 20,000 tax preparers in the United States.
“This is a great opportunity for us to provide our company more resources and provide our leadership team an opportunity to meet with other industry leaders, affiliated with Marlin,” added Rhodes.
At this time, no member of Marlin’s executive team will relocate to Augusta.
Neil Gordon is a Business Writer with The Augusta Press. Reach him at neil.gordon@theaugustapress.com
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