BGF exits Jumpstart
Business Growth Fund (BGF) has announced the exit of its minority investment in Edinburgh-based R&D tax credit specialists Jumpstart, as the business is acquired by Visiativ Group.
Visiativ’s Consulting division, ABGI, will acquire Jumpstart following a period of acquisitive expansion and growth.
Jumpstart is a market leading innovation funding specialist providing a complete service in claiming R&D tax credits and Patent Box tax relief. BGF’s £3.4m investment in February 2014 has been used to build a sales and marketing function to support Jumpstart’s growth across the UK.
Since BGF’s investment, Jumpstart has opened offices in Birmingham and Manchester and, over the last ten years, has achieved more than 4,300 successful R&D tax credit claims for its 1,400 clients.
Jumpstart’s current shareholders will exit as part of the transaction.
Chairman Jim Faulds, who was introduced by BGF’s Talent Network and has provided strategic guidance to the company, will step down from the Board.
Following the acquisition, managing director Scott Henderson and the management team will join Visiativ’s Consulting division, ABGI, and continue in their roles. The company will continue its growth strategy and maintain its current brand at the same time as benefitting from Visiativ’s business connections.
Scott Henderson, Jumpstart’s MD, said: “I am delighted that Jumpstart is joining the Visiativ Group. The acquisition is a huge vote of confidence in our approach to helping companies fulfil their innovation funding strategy. As the preferred supplier to the manufacturing sector through our partnerships with EEF and Scottish Engineering, many of our clients have multi-country R&D operations. Joining an international innovation management and finance consultancy firm will help broaden our R&D tax relief provision into France, Canada, USA and Brazil.
“BGF’s investment has allowed us to build our team and expand the business across the UK, and we’re excited to enter our next stage of growth with Visiativ.”
Paddy Graham, head of central Scotland and NI for BGF, added: “Scott and the team have achieved an impressive amount in the past couple of years in what is now a highly competitive market. It has been a pleasure to work with the team, who will become valued BGF alumni.
“The work that Jumpstart does is incredibly important in facilitating R&D investment and making the UK more competitive on an international level and we’ve enjoyed playing our part in that and working with the team to realise their ambitions. We look forward to seeing their continuing success in the next phase of their journey with Visiativ.”