Professional services group K3 closes fifth deal since lockdown

22 February 2021 Consultancy.uk 3 min. read
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K3 Capital has purchased inTAX, adding tax investigations to its list of specialist services. The move marks the private equity firm’s fifth acquisition in lockdown, as it moves to create a comprehensive portfolio of professional services firms.

Founded in 2013, inTAX is a specialist consultancy, focusing on tax investigations and tax enquiries. Based in Holborn, London, the boutique’s nine-strong team has extensive experience in dealing with various tax issues, including disclosure facilities, tax fraud investigations, and tax avoidance schemes, such as film schemes, employee benefit trusts and contractor loans.

Following the deal, inTAX will retain its inTAX branding, and will continue to be led by founder Jacqui Fleming. A qualified Chartered Tax Advisor, Fleming has 17 years’ experience at Inland Revenue, and was an inspector of taxes on the prosecutions group where she specifically dealt with heavyweight criminal tax investigations – while also boasting experience from other mid-tier tax and professional services firms, including BDO and RSM Tenon.

Professional services group K3 closes fifth deal since lockdownCommenting on becoming part of K3 Capital, Fleming, who is now Managing Director at inTAX, commented, “I have watched K3and the ways in which it has grown both organically and through acquisition over the last eight years. This acquisition marks the beginning of a new and exciting era and I am delighted to be joining the Group at this time and in doing so, adding tax investigations to the group’s impressive portfolio of services.” 

Established in 1998, Bolton-based K3 has steadily built up a multi-disciplinary portfolio of professional services firms. Having been listed on the London Stock Exchange sub-market AIM since 2017, K3 has recently been working to build a holistic global advisory practice via a sustained acquisition campaign.

Since lockdown, this has seen K3 purchase five firms, including Derby-based R&D tax credit specialists Randd UK, and Essex-based insolvency practice, Aspect Plus and Cayman-Island based Alchemy in early 2021. The latter two both served as bolt-on firms to Quantuma Advisory – the restructuring consultancy K3 purchased in the summer. inTAX will also be working closely with fellow group subsidiary Quantuma in the future.

John Rigby, CEO of K3 Capital Group remarked, “It has been a strategic ambition of the K3 Group to develop a diversified tax advisory practice to complement our well-developed M&A, restructuring and forensic accounting practices. That ambition was initially realised by the acquisition of R&D tax credit specialists, RANDD UK Ltd in the summer of 2020, and has been further developed by our acquisition of inTAX today. We look forward to working with Jacqui and the team, to embed them into our growing group and to their contribution to the ambitious growth we are targeting in the coming years.”