INDIANAPOLIS – McGuire Sponsel, a national tax and consulting firm, today announced its purchase of San Francisco-based Export Assist, an industry leader in providing tax benefit programs to U.S. exporters for the past 35 years.
Export Assist will continue to operate under its current name. Industry veterans Mark O’Dell and Tedder Schwarz, senior consultants at McGuire Sponsel, will lead Export Assist as principals.
“Export Assist enjoys a tremendous reputation, built by industry pioneer Joe Englert,” said TJ Sponsel, McGuire Sponsel’s Managing Director. “Our acquisition seeks to build on his legacy and drive company growth utilizing McGuire Sponsel’s significant IC-DISC experience and national specialty tax expertise.”
Founded in 1982, Export Assist is a leader in worldwide export finance management. The firm provides export tax benefit programs, credit and finance services for small, medium and large, multinational companies.
In addition to its San Francisco location, Export Assist will expand into Indianapolis to collaborate with the McGuire Sponsel team. The move provides Export Assist clients with access to a wealth of resources, experts and other valuable specialty tax services.
Export Assist will continue its primary focus on IC-DISC (Interest Charge Domestic International Sales Corporation). IC-DISCs provide a permanent tax savings opportunity for qualifying U.S. exporters to increase their ability to compete globally by reducing U.S. tax liabilities. Beyond tax reduction, an IC-DISC can be used to increase liquidity, supply ongoing financing, create management and employee incentives and eliminate double taxation.
Terms of the private deal were not disclosed.
“Export Assist clients understand the many benefits of IC-DISCs for their export operations,” said Sponsel. “We’re going to take those benefits to the next level, combining innovative strategies with a national support team of seasoned experts.”