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Business tax relief specialist Catax has announced the acquisition of competitor Aim Proactive in a deal worth up to £5m.
Aim Proactive was founded by managing director Steve Bailey and co-founder Julie Tilke in 2007, and focuses on helping businesses in all sectors make claims for R&D tax credits.
Over the past 14 years the company has grown “substantially”, and now represents clients with a combined turnover of £500m, generating approximately £6.5m in tax benefits and annual revenue of over £1m for Aim Proactive itself.
Catax said the company has grown so fast that it has “struggled to keep up with demand”, forcing its founders to seek a buyer of sufficient size that could handle the volume of business that it was attracting.
Aim Proactive’s clients will now be moved over to Manchester-based Catax, while Bailey and Tilke will also be joining the company. Catax said they will remain “very much involved” in servicing and growing this new part of Catax’s business under the brand ‘Aim Proactive powered by Catax’.
Mark Tighe, CEO of specialist R&D tax consultancy Catax, said: “Aim Proactive is one of the best independent R&D tax relief consultancies out there, and we’re honoured to be entrusted with the clients that the founders have spent over a decade nurturing in many cases.
“Those relationships are really important to us, and that’s why it was always a fundamental part of this acquisition that Steve and Julie would be coming along too. They have valuable expertise and a really solid track record. We’re delighted to have them aboard.”
Bailey added: “Hitting a ceiling and not being able to take on any more clients is a nice problem to have in business. That’s what forced us to seek a buyer. The business just won’t stop growing and we couldn’t be happier that we and our clients will become part of the Catax operation.
“They have a strong reputation for doing what we have always strived to do, namely offering superior service and a level of expertise that clients are incredibly grateful for.”
