Manchester-based business tax relief specialist Catax has acquired Aim Proactive in a deal worth up to £5m.
Aim Proactive was founded by managing director Steve Bailey and co-founder Julie Tilke in 2007.
It focuses on helping businesses in all sectors make claims for R&D tax credits.
Over the past 14 years the company has grown substantially, and now represents clients with a combined turnover of £500m.
The firm generates approximately £6.5m in tax benefits and annual revenue of more than £1m for Aim Proactive itself.
The company has grown so fast that it has struggled to keep up with demand.
The situation has forced its founders to seek a buyer of sufficient size that could handle the volume of business that it was attracting.
Aim Proactive’s clients will now be moved over to Manchester-based Catax, while Bailey and Tilke will also be joining the company.
They will remain involved in servicing and growing the new part of Catax’s business under the brand ‘Aim Proactive powered by Catax’.
Mark Tighe, chief executive of Catax, said: “Aim Proactive is one of the best independent R&D tax relief consultancies out there, and we’re honoured to be entrusted with the clients that the founders have spent over a decade nurturing in many cases.”
Steve Bailey, managing director of Aim Proactive, added: “Hitting a ceiling and not being able to take on any more clients is a nice problem to have in business. That’s what forced us to seek a buyer.
“The business just won’t stop growing and we couldn’t be happier that we and our clients will become part of the Catax operation.”