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Source Advisors, a Fort Worth a specialty tax solutions and software provider with more than 150 employees, has a new owner with BV Investment Partners making a majority investment in the firm.
Terms of the deal were not disclosed.
BV Investment Partners, headquartered in Boston, is a middle-market private equity firm focused on the tech-enabled business services, software, and IT services sectors.
“With BV as our new partner, we’re excited to accelerate efforts to further strengthen our data-driven, technology-enabled offerings that will continue to help our clients navigate the ever-evolving and complex business tax code,” said Source Advisors President Chris Henderson in a statement. “Source Advisors has a history of utilizing a powerful combination of technical experts and technology to eliminate guesswork and allow companies to claim the tax credits they deserve.
“Given BV’s long track record of investing in technology-driven companies, we plan to expand our ability to leverage proprietary technology to enhance tax saving strategies across the Source Advisors platform, including the recently launched GOAT.tax automated R&D Tax Credit platform.”
GOAT.tax is a cloud-based automated platform for addressing the research and development tax credits created to incentivize U.S.-based research.
Founded in 1983 as LIFO Systems, Source Advisors is a specialized tax consulting firm providing R&D tax credit, cost segregation, energy efficiency, and LIFO inventory solutions. It collaborates with a network of more than 850 accounting firms, serving thousands of clients.
“There is a broad and growing demand for specialty tax consulting services across end markets,” said Jason Kustka, managing director of BV.