BGF invests £3.4m in Jumpstart

The fresh capital will be used to support the company's growth in the UK through developing its sales, marketing and delivery functions. It will also allow the company to recruit more senior staff.

Debt
Debt for the deal was provided by Clydesdale Bank.

Company
Edinburgh-based Jumpstart was established in 2008 by Stuart Wyse, Don Galloway and Richard Edwards. The company works with UK businesses to help them navigate HMRC's R&D tax relief application process. This work has traditionally been carried out by accountancy firms - Jumpstart however claims it can take the offering further through its team of sector-specific technical analysts with post-graduate research qualifications.

The company counts 500 customers throughout the UK and its current order book exceeds £10m. It employs 50 full-time staff and a further 50 on a part-time basis.

People
As part of the deal, Jim Faulds has been appointed as chairman and David Evans and non-executive director. Brian Williamson is managing director of Jumpstart.

Patrick Graham is a senior investment manager at BGF.

Advisers
Equity - Dempster Solutions (Financial due diligence); HBJ Gateley (Legal).
Company - Harper MacLeod (Legal).

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• Topics
• Expansion
• UK / Ireland
• Support services
• BGF (Business Growth Fund)
• United Kingdom