Innovation funding specialist, Catax, has announced it has acquired Access2Funding, the R&D tax relief consultancy.
Under the new terms, Access2Funding will continue to trade under its own name, and Catax will retain all 32 of the firm’s staff, including chief executive officer (CEO) Dawn Coker.
Access2Funding said its process is not changing and “it’s business as usual” asits client account managers and finance team will remain the same.
Since being founded in 2014, Access2Funding has made more than 1,650 R&D tax credits claims for businesses of all sizes, recovering in excess of £54m.
Meanwhile, the deal marks the latest in a string of acquisitions that Catax has made since it was founded in 2008. Catax operates in the R&D Tax Credits arena but also specialises in capital allowances, patent box, grants and remediation of contaminated land.
Manchester-based Catax was itself acquired by global tax services and software provider, Ryan, a firm dedicated exclusively to business taxes, in March this year.
Catax’s latest acquisition was brokered by FRP Advisory and completed on Friday (27 May 2022).
Mark Tighe, Catax founder, said: “Access2Funding has been a growing force in the R&D tax relief space and we’ve been impressed by the expertise of the company’s team and the quality of their work for some time. Their client roster is a reflection of that.
“Our two companies are based not that far away from each other, so it’s the end of what has been a bit of a local derby and we’re delighted to welcome them to the fold. They’re now part of a business that has a formidable reputation around the globe.”
Dawn Coker, CEO of Access2Funding, added: “I’m thrilled at the opportunity this represents for the business and all of our staff. Catax is one of the most trusted names in the tax relief sector and this investment will allow us to leverage their expertise to increase delivery for our clients and continue to grow Access2Funding at pace.”