Bristol-based ForrestBrown, the rapid-growth R&D tax credit consultancy, has been acquired by a leading US tax incentive group.
Established in 2013 by entrepreneur Simon Brown, ForrestBrown has grown exponentially and today employs 63 staff in its Whiteladies Road HQ and an office in London.
Since its launch it has worked with thousands of innovative UK businesses across all sectors and last year delivered more than £75m for its clients.
It is the UK’s only firm of chartered tax advisers (CTA) wholly specialised in research and development tax credits.
Buyer alliantgroup, based in Houston, Texas, describes itself as being at the forefront of US tax legislation, representing the needs and interests of SMEs with an 800-strong team of experts. The group is the leading provider of federal and state tax incentives in the US. It has helped more than 12,000 businesses claim more than $6bn in tax incentives. 
Under the deal, financial details of which have not been released, ForrestBrown becomes a wholly owned subsidiary of alliantgroup. The ForrestBrown brand, all employees and its Bristol headquarters will be retained.
However, executive chairman and Bristol serial entrepreneur and angel investor Dr Mark Mason MBE will step down. Dr Mason, who founded Bristol-based mobile app developer Mubaloo and, previously, creative agency Mason Zimbler, joined the ForrestBrown’s leadership team three years ago to help steer its growth.
Simon Brown, pictured, said: “I’m incredibly proud to have grown a business that delivers for – and delights – our clients. We’ve doubled in size each year and have won awards for our work. Our acquisition marks the next step in ForrestBrown’s journey.
“ForrestBrown is incredibly excited to become part of the alliantgroup family and to expand its footprint outside of the UK. alliantgroup has strong values and a clear purpose that aligns fully with our own mission: to help innovative businesses grow.
“Having alliantgroup on our side will enable us to continue to grow and provide international service offerings to our UK clients – without compromising the high standards we set.
“By leveraging alliantgroup’s scale and resources, we will be able to move faster and with more impact in a way we would be unable to do on our own. I am confident that our new affiliation will make us better as a business and result in an improved service for our clients.”
Alliantgroup CEO Dhaval Jadav said: “Combining ForrestBrown with alliantgroup strengthens our business and opens up new opportunities to us in a new market. With their absolute focus on client service and investment in professional growth for employees, ForrestBrown is a great cultural fit for us. We’re incredibly excited to get to know our new UK colleagues, and look forward to lending our expertise to grow ForrestBrown even further.”
Speaking about Dr Mason’s role at ForrestBrown, Simon Brown said: “As an entrepreneur himself, Mark’s counsel has been invaluable over the past five years.
“He has given me the confidence to set ambitious targets for ForrestBrown and advice that has helped me to achieve them. Without him, ForrestBrown would not be about to embark on this new phase of growth and I am incredibly grateful to him”.
Dr Mason, pictured, added: “This deal is a testament to the hard work of Simon and the ForrestBrown team. Together, they have not only created one of the fastest-growing businesses in the UK, but have also positioned themselves as the premier R&D tax credit consultancy in the UK. I’m delighted to have supported ForrestBrown through this acquisition and I’m confident that together we’ve found the right partner for the next step in ForrestBrown’s journey.”
ForrestBrown’s shareholders were advised on the sale by Bristol-based Momentum Corporate Finance and the Bristol office of international law firm Osborne Clarke.
Pictured: The ForrestBrown team
