TMF Group Bags Two Smaller BPOs in Mexico

European firm TMF Group significantly expanded its presence in Mexico by acquiring two smaller BPO providers: KMC Campos y Campos and Matas Lorenzo.

Both firms specialize in accounting, tax, payroll and fund services.

This strategic acquisition strengthens TMF’s operations in Latin America, a region where it has a strong base for providing back-office services to clients in the US.

“These acquisitions forms part of our plan to grow in Latin America, especially in Mexico, where there is significant potential for both foreign investment and nearshoring opportunities,” said Monica Vera, the company’s head in Latin America.

Based in Amsterdam, TMF has operated in Mexico since 2006, offering a range of back-office services, including accounting, legal, tax compliance, corporate secretarial, entity management and HR and payroll services.

As of December 2023, TMF employs more than 10,000 people across 125 offices worldwide.

The Dutch company reportedly manages more than US$215 billion in assets under administration.