Deloitte Tax LLP ("Deloitte Tax") announced that it has acquired certain assets of Trust Processing Solutions LLP ("TPS"), a large-scale fiduciary tax compliance company located in Cincinnati, Ohio.

TPS, a boutique firm specializing in the fiduciary trust services space, has consistently demonstrated the capacity and quality to serve clients and brings a team of experienced professionals to Deloitte Tax's Institutional Trust Group ("ITG"). The acquisition will enhance ITG's presence, capitalizing on TPS's strong connections in the marketplace and positioning Deloitte Tax to become one of the largest providers of fiduciary tax services in the U.S.

"The acquisition of certain assets of Trust Processing Solutions creates an incredible opportunity for our people, our clients and Deloitte Tax," said Carin Giuliante, chair and CEO, Deloitte Tax. "By combining the existing capabilities of our ITG team with TPS's experience in key specialty areas and processes, we will be well-positioned to offer current and future clients unparalleled depth and knowledge."

"Today is the start of an exciting new chapter for the TPS team joining Deloitte Tax," said Doug Hart, managing partner, TPS. "TPS has been a serious operator in the fiduciary tax services space, successfully managing a high volume of returns with a robust client list. We are excited to combine our experience with that of the Deloitte Tax ITG team, whose deep industry knowledge and global reach will allow our combined workforce to deliver even greater value to our clients."

"In addition to expanding the size of our ITG practice, the acquisition of certain assets of TPS by Deloitte Tax will unlock tremendous marketplace potential for the future growth of our ITG team," said Dan Mueller, managing partner – businesses and offerings, Deloitte Tax. "Doug Hart is highly regarded in the fiduciary marketplace, and we anticipate that his reputation and relationships will lead to increased visibility and opportunities in the marketplace."