Professional services group swoops with acquisition of capital allowances specialist

Bolton-based professional services group, K3 Capital Group, has acquired capital allowances specialist HMA Tax (International) for an undisclosed sum.

HMA Tax is based in Droitwich, Worcestershire, and is a provider of advisory services to commercial property owners and investors in identifying unclaimed capital allowances.

It has developed proprietary, bespoke software to optimise the process of capital allowance report generation, ensuring accuracy, efficiency and speed. HMA has successfully claimed more than £500m in tax relief, across 7,500 claims.

It was established in 2014 and is owned by Tom Meredith and Duncan Chittick.

Since inception, the group has grown to more than 12 staff in offices across the globe, including the UK, Asia, the Middle East and Australia, and has a turnover of around £2.5m.

Following the acquisition, HMA Tax will continue to be led by its founders and operate independently within the K3 group.

Duncan Chittick, co-founder of HMA Tax, said: “When we were approached by K3 about the potential transaction, it was immediately apparent we were dealing with an ambitious group who shared many of our business values and growth plans.

“This deal is an incredibly exciting opportunity to accelerate our growth. However, for our existing clients, it is strictly business as usual. Tom and I are committed to continue leading the business and we are looking forward to driving HMA Tax forward as part of K3.”

John Rigby, executive chairman of K3, said: “There is crossover with existing K3 businesses, but we see the HMA Tax brand as highly accretive and with considerable growth opportunities.

“We believe that with access to central services such as data, marketing, HR and IT, HMA Tax can accelerate its growth opportunities within the SME marketplace.