Tax Credit Co. (“TCC”), a provider of tax incentive consulting, administration and technology and a portfolio company of Veronis Suhler Stevenson, has acquired Incentives Advisors (“IA”), a government incentives technology and services provider, from Workstream, Inc.
The acquisition of IA is the first transaction since TCC received an investment in November 2012 from Veronis Suhler Stevenson to accelerate organic growth and pursue add-on acquisitions in a highly fragmented industry. “We are very pleased to complete this acquisition, which extends TCC’s leadership position in the tax credit and incentive solutions industry,” said Michael Kessler, Managing Director of Veronis Suhler Stevenson.
Incentives Advisors is a provider of services to assist businesses in maximize available government incentives. IA’s programs include hiring-related tax credits and incentives, cash training grants, negotiated incentives, cost segregation studies and green incentives. The company is headquartered in Los Angeles (www.incentivesadvisors.com).
Tax Credit Co. is a national provider of tax incentive consulting, administration and technology, serving clients from the Fortune 100 to small businesses. Tax Credit Co. helps clients increase earnings by optimizing the process of obtaining state and federal tax incentives, including state and federal research and development tax credits, state enterprise zone tax credits, national hiring incentives such as the Work Opportunity Tax Credit and other state and federal programs. Tax Credit Co.’s proprietary, next-generation software platform manages national tax credit screening and compliance for large, complex organizations. The company is headquartered in Los Angeles (www.taxcreditco.com).
The acquisition of IA strengthens TCC’s position as an industry leader by adding IA’s programs in training grants, negotiated incentives, and other government programs, expanding TCC’s market penetration and enhancing its growing Work Opportunity Tax Credit business for national employees.
“Together, Tax Credit Co. and Incentives Advisors create a uniquely positioned business in the tax incentives market,” says Bill Becker, President, CEO and co-founder of IA, based in Phoenix, Arizona. “The combination of TCC’s market leadership in research & development credits, WOTC, and California incentives, with IA’s comprehensive hiring incentive screening technology and expertise in nationwide incentive programs establishes our leading market position. Businesses become more profitable by taking advantage of available government dollars, and we have been delivering these valuable incentives through seamlessly integrated solutions with valued partners such as Oracle/Taleo, HRsmart and Snagajob. We now are excited to join forces with TCC to help employers maximize these benefits with an even broader solution.”
Veronis Suhler Stevenson is a private equity and debt capital fund management company that invests in the media, information and education industries in North America and Europe. The firm provides capital for buyouts, recapitalizations, growth financings and strategic acquisitions to companies and management teams with a goal to build companies both organically and through a focused add-on acquisition program. Since the closing of the first VSS buyout fund in 1987, VSS has managed four buyout funds and two structured capital funds with aggregate committed capital in excess of $3.1 billion. The six funds have to date invested approximately $2.8 billion in 72 portfolio companies which have in turn completed over 320 add-on acquisitions. Veronis Suhler Stevenson is based in New York (www.vss.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 3-6-13
