French group swoops for Edinburgh R&D tax specialist
Edinburgh-based research and development tax specialist Jumpstart has been acquired by a listed digital group in France.
Jumpstart plans to expand into new international markets after Lyon-headquartered ABGI Group, the consulting division of digital company Visiativ Group, acquired a 93 per cent stake in the business for an undisclosed sum.
MD Scott Henderson said it would allow Jumpstart to expand into the French, North American and Brazilian markets.
Chairman Jim Faulds is to step down from the board but the management team will continue in their existing roles while the firm will continue to be known as Jumpstart.
“The acquisition is a huge vote of confidence in our approach to helping companies fulfil their innovation funding strategy,” said Henderson.
“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.”
Jumpstart recently posted annual revenues of around £4.7m and has a team of 44 employees working from Edinburgh, Manchester and Birmingham.
BGF, which invested £3.4 million into Jumpstart in 2014, has exited the business.