Faulds to leave board
Visiativ Group acquires R&D tax specialist Jumpstart
Chairman Jim Faulds (pictured), who was introduced by BGF’s talent network and has provided strategic guidance to the Edinburgh-based company, will step down from the board. BGF held a minority stake.
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.
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, including office openings in Birmingham and Manchester. Over the last ten years it has achieved more than 4,300 R&D tax credit claims for its 1,400 clients.
Mr Henderson said: “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, said: “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.”