Funding firm Granted Consultancy bought by Catax

Financial services firm Catax has completed the acquisition of Granted Consultancy. The innovation funding specialist joins Catax for an undisclosed amount.

Founded in 2008, Catax is a professional services firm specialising in capital allowances, research and development (R&D), and tax reliefs, as well as providing grant funding consultancy. With long-standing partnerships with ICAEW, the Law Society and IFA, the firm has helped clients identify a total of £330 million in tax benefit to date.

As Catax sought to accelerate its growth, March 2022 saw it become part of Ryan, a global tax services and software provider. Since Ryan acquired Catax, the firm has completed a string of deals – including swoops for Birkenhead-based rival Access2Funding before the turn of the year.

With 2023 now under way, Catax has further strengthened its operations – and particularly its R&D and innovation offerings – with the purchase of Granted Consultancy. The Exeter-based advisory has secured more than £200 million in grants and reliefs for its clients since its formation in 2010.

Speaking on the move, Granted Consultancy Managing Director Tom Kennard said, “Our team is honoured to join Catax and Ryan’s grant funding and R&D tax credits team. As a global leader in this space, it makes sense to harness our knowledge and expertise to work together for the betterment of our clients. From a workplace culture standpoint, Catax and Ryan are a perfect fit for our team to serve our clients and grow their careers.”

Granted is headquartered in Exeter, with a base at the Clockwise Offices in Broadwalk House, at the centre of the city. Its team of more than 30 staff remain with the firm following the agreement. The deal sees Catax take its UK office count to three, alongside locales in London and Glasgow.

Mark Tighe, Founder of Catax, added, “Granted is a well-respected leader in the UK grant funding market. Joining forces makes perfect sense, as we are now able to offer more robust funding solutions and expand the work we do for clients. We are thrilled to have the Granted team on board.”

Finding new funding for innovation is crucial for firms to continue R&D ambitions, in spite of the recession now gripping the UK. As a result, demand for consulting firms helping win grants is likely to rise through 2023.