Onex and Ares-backed Ryan acquires RTC Consulting

• RTC’s founder and majority shareholder Peter Kustec will join Ryan as a principal in the company’s SR&ED practice
• Ryan, a Dallas-based tax services and software provider, secured an investment from Onex in 2018
• Ares invested alongside Onex last year

Ryan, a portfolio company of Onex Corp and Ares Management Corp and has acquired RTC Consulting, a Point-Claire, Quebec-based scientific research and experimental development (SR&ED) tax consultancy operating in Canada. No financial terms were disclosed

RTC’s founder and majority shareholder Peter Kustec will join Ryan as a principal in the company’s existing SR&ED practice.

“The strength and success of RTC is the perfect addition to our thriving SR&ED practice,” said Ryan Chairman and CEO Brint Ryan in a statement. “Their track record over the last three decades of obtaining tax credits for companies of all sizes in a variety of industries will be an immediate asset to our clients with Canadian operations. We are thrilled to offer our clients expanded technical expertise and services as we continue our accelerated growth across Canada.”

With headquarters in Dallas, Texas, Ryan is a global tax services and software provider. In 2018, the company secured an investment from Onex, a Canadian private equity firm. Ares invested alongside Onex last year.

Based in Toronto, Onex operates two primary businesses: private equity and credit. It managed about $51 billion of assets as of September 2022

Los Angeles-based Ares is an alternative investment manager focused on primary and secondary investment solutions across credit, private equity, real estate and infrastructure. It had about $352 billion of managed assets as of December 2022.