Professional services firm acquires capital allowances specialist
Fri, 14 Jun 2024 | BUSINESS SALE
Professional services group K3 Capital Group has acquired capital allowances specialist HMA Tax (International) for an undisclosed sum. HMA Tax provides advisory services to commercial property owners and investors, helping them to identify unclaimed capital allowances.
The company, which is based in Droitwich, has developed proprietary, bespoke software to optimise the capital allowance report generation process, ensuring efficiency, accuracy and speed. It has successfully claimed in excess of £500 million in tax relief for clients from around 7,500 claims.
Since it was founded in 2014, the company has expanded to have offices around the world, including the UK, Asia, Australia and the Middle East, with annual turnover of approximately £2.5 million. Following the acquisition, the company will continue to be led by its founders, while operating independently within the Bolton-headquartered K3 Capital group.
HMA Tax co-founder Duncan Chittick commented: “When we were approached by K3 about the potential transaction, it was immediately apparent we were dealing with an ambitious group who shared many of our business values and growth plans.
“This deal is an incredibly exciting opportunity to accelerate our growth. However, for our existing clients, it is strictly business as usual. Tom [Chief Technology Officer Tom Meredith] and I are committed to continue leading the business and we are looking forward to driving HMA Tax forward as part of K3.”
K3 Capital Group Executive Chairman John Rigby said that HMA Tax has crossover with existing businesses within the group and added that K3 saw the brand as “highly accretive and with considerable growth opportunities.”
He continued: “We believe that with access to central services such as data, marketing, HR and IT, HMA Tax can accelerate its growth opportunities within the SME marketplace.”
Read more about the range of factors contributing to growing M&A activity in the UK professional services industry
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