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Onex-backed Ryan snatches up Britain’s Catax

Ryan has acquired Catax, a Manchester, UK-based research and development and capital allowances tax reclaim specialist.

Ryan has acquired Catax, a Manchester, UK-based research and development and capital allowances tax reclaim specialist. No financial terms were disclosed. Ryan, a Dallas-based provider of tax services and software, has been backed since 2018 by Canadian private equity firm Onex Corp.

PRESS RELEASE

LONDON–(BUSINESS WIRE)–Ryan, a leading global tax services and software provider, has announced the acquisition of Catax, a research and development (R&D) and capital allowances tax reclaim specialist operating in the United Kingdom (UK) and Canada.
The acquisition of the Manchester, UK-headquartered company further strengthens Ryan’s R&D global market position, helping it to present new service offerings in the UK and expanding the Firm’s Scientific Research and Experimental Development (SR&ED) practice in Canada.

The acquisition is a major milestone for Catax, which was founded in 2009. The Catax and Ryan operations will complement each other immediately by broadening the services offered to existing clients.

“This acquisition perfectly aligns with our strategic goal of expanding Ryan’s global footprint in the research and development space,” said Ryan Chairman and CEO G. Brint Ryan. “We’re thrilled to welcome Catax’s team of experienced professionals to our continually expanding global network. Our valued clients will benefit from Catax’s leading R&D and capital allowances tax services in the United Kingdom, Canada, and around the world.”

With operations in London and Vancouver, Canada, Catax has more than 100 trusted specialists who assist clients with their tax relief claims. Since being founded, more than 7,000 clients have benefited from more than £428M in claims, and Catax has had a 99.99% success rate on all claims over the past three years.

“We are delighted to be joining a global leading tax firm and are excited about the opportunities this presents, not only to our team but also to our clients,” said Mark Tighe, Chief Executive Officer, Catax. “We’ve grown rapidly over the past 13 years by setting high benchmarks for quality of service in the UK and Canada. Everything about this acquisition points to a new and exciting chapter for us. Collectively, our knowledge and expertise is second to none, providing a unique opportunity in the rapidly evolving market for tax services and software.”

“The addition of Catax’s commercial research and development and capital allowances tax reclaim service offerings further expands our ability to serve clients in the European market,” said Jon C. Sweet, Ryan’s President of European and Asia-Pacific Operations. “Further, we are excited to offer additional tax-saving strategies to their impressive client roster.”

The acquisition of Catax follows Ryan’s recent acquisition of Qvalia’s value added tax (VAT) compliance and recovery business in the Nordics. Combined, these two acquisitions expand the services offered to Ryan’s clients across Europe and demonstrate Ryan’s commitment to investing on a global scale.

About Ryan
Ryan, an award-winning global tax services and software provider, is the largest Firm in the world dedicated exclusively to business taxes. The Firm provides an integrated suite of international tax services on a multijurisdictional basis, including cost management, compliance, consulting, and technology services. Ryan is a nine-time recipient of the International Service Excellence Award from the Customer Service Institute of America (CSIA) for its commitment to world-class client service. Empowered by the dynamic myRyan work environment, which is widely recognised as the most innovative in the tax services industry, Ryan’s multidisciplinary team of more than 3,100 professionals and associates serves over 18,000 clients in more than 60 countries, including many of the world’s most prominent Global 5000 companies. More information about Ryan can be found at ryan.com/europe. “Ryan” and “Firm” refer to the global organisational network and may refer to one or more of the member firms of Ryan International, each of which is a separate legal entity.