STAMFORD, CT – In a significant move, Gainline Capital Partners ("Gainline") has made public its successful acquisition of SourceHOV Tax (referred to as the "Company") from Exela Technologies, Inc. (NASDAQ: XELA), executed through a carve-out transaction. With its headquarters nestled in Fort Worth, TX, SourceHOV Tax has emerged as a dominant player in the realm of tax incentive solutions catering to accounting firms and mid-sized companies spanning the U.S. market. Renowned for its technical prowess and expansive reach, the Company has established itself as a premier outsourced incentives provider. A notable achievement was its service to over 2,000 clients in 2019 across its flagship offerings: R&D Tax Credits, LIFO accounting, and cost segregation solutions.

The existing leadership squad at SourceHOV Tax, headed by Chris Henderson, Deborah Roth, and Chris Hitselberger, is slated to remain at the helm. Reflecting on this transition, Mr. Henderson expressed his enthusiasm, stating, "Our collaboration with Gainline in realizing our autonomous corporate vision is a source of excitement. Gainline's adeptness in bolstering both organic and inorganic growth initiatives is set to be an invaluable asset to SourceHOV Tax. Together, we aim to broaden our solutions spectrum, thereby enhancing the caliber of service we provide to our esteemed clientele."

Allan Weinstein, the Managing Partner at Gainline, voiced his elation, saying, "Our partnership with the SourceHOV Tax team has us brimming with enthusiasm. The Company's value proposition, underscored by services that directly translate into positive financial outcomes for clients, coupled with its esteemed reputation for efficiency and quality, cements its standing as a truly remarkable enterprise. SourceHOV Tax aligns seamlessly with Gainline's strategic approach of investing in enterprises endowed with robust fundamentals and poised for their inaugural institutional infusion." Joining the Company's board of directors, Kerri McNicholas, a Principal at Gainline, concurred, "SourceHOV Tax finds itself strategically positioned to leverage the escalating recognition of, and burgeoning demand for tax incentive solutions, especially as companies actively seek avenues to optimize their cash flow."

About Gainline Capital Partners

Gainline Capital Partners is a private equity firm specializing in investments within the U.S. middle market sector. Focusing on profitable enterprises with enterprise values of up to $250 million, Gainline collaborates with management teams to realize their visions, stimulate sustainable growth, and establish lasting value. For more information, please visit www.gainlinecapital.com.

Download Our Aerospace Case Study
Thank you! For Your submission
Click here to download your asset
Oops! Something went wrong while submitting the form.
Access Our Case Study on Consumer Goods Manufacturing
Thank you! For Your submission
Click here to download your asset
Oops! Something went wrong while submitting the form.
Download Our Comprehensive Metal Fabrication Case Study

To gain deeper insights into how our strategies and innovations have yielded remarkable benefits, please share your details.

Thank you! For Your submission
Click here to download your asset
Oops! Something went wrong while submitting the form.
Access Our Case Study on R&D Tax Credit for Precast Concrete
Thank you! For Your submission
Click here to download your asset
Oops! Something went wrong while submitting the form.

Which Industries Qualify?

The R&D tax credit can be applied to a wide variety of industries, including (but not limited to):

Aerospace

Tool & Die

Metal Fabrication

Plastics & Injection Molding

Consumer Products

Manufacturing

Architecture & Engineering

Food & Beverage

Financial Services

Mortgage & Banking

Software Development

Chemical

Contract Manufacturing

Construction / MEP

Pharma

Oil & Gas

Popular

By
Deb Roth
on
August 14, 2023

Maximizing Cash Flow Through Government Tax Opportunities

Amid the ongoing challenges posed by COVID-19, numerous small and midsize businesses are grappling with maintaining cash flow, operational capabilities, and their internal research and development initiatives. While the Coronavirus Aid, Relief, and Economic Security (CARES) Act did extend financial aid to these COVID-19-affected enterprises through emergency grants, retention tax credits, and forgivable loans, these solutions offer only temporary cash flow relief, falling short of providing lasting solutions.

By
Deb Roth
on
August 14, 2023

Understanding the R&D Tax Credit Carryforward Period

The R&D Tax Credit Carryforward Period refers to the duration during which unused portions of research tax credits can be applied to offset future tax liabilities. This provision is often overlooked by many taxpayers who are eligible for R&D Tax Credits. In most cases, companies that have qualified research expenses but lack current income can carry forward these credits to offset taxes on forthcoming profits. The carryforward period allows credits to remain applicable for up to 20 years. Additionally, the option to carry back credits for the previous year is also available.

By
Deb Roth
on
August 14, 2023

Are R&D Tax Credits Convertible to Cash?

Navigating the world of R&D Tax Credits often prompts the question: Can these credits be converted into cash refunds? It's a query frequently posed by businesses seeking to maximize their returns on research and development investments. While R&D Tax Credits themselves aren't inherently refundable, they can still yield a financial windfall in the form of cash benefits.

Have any question? We're here to help.

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Cookie Consent

By clicking “Accept”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. View our Privacy Policy for more information.