06 Sep Bandon Partners announces the sale of portfolio company Clarus R+D to TriNet
DUBLIN, Calif., Sept. 6, 2022 — TriNet, ( NYSE: TNET), a leading provider of comprehensive human resources solutions for small and medium-size businesses (SMBs) today announced that it has acquired Clarus R+D Solutions LLC, an industry-leading, service and expertise driven, fintech solutions company that simplifies the R&D tax credit process for SMBs. Terms of the deal were not disclosed.
Clarus R+D helps SMBs take advantage of the research and development tax credit, one of the largest tax incentives available to US businesses. Clarus R+D’s cutting-edge, cloud-based software platform, coupled with the deep expertise of its professional services team, delivers access, compliance, and clarity for federal and state R&D tax credits. The Clarus R+D platform has automated much of the R&D credit qualification and application process to ensure that the final incentives are optimized for each client. Businesses save valuable time as a result of the automated calculation process, while maximizing their R&D tax credit.
“With our acquisition of Clarus R+D, TriNet takes another important step towards powering the success of small and medium-sized businesses,” said Burton M. Goldfield TriNet’s President and Chief Executive Officer. “Many of our PEO and HCM customers qualify for R&D tax credits and do not have the time or expertise to successfully apply for them. With the addition of Clarus R+D, TriNet expands its offering to better serve these customers. I look forward to leveraging Clarus R+D to put money back in the hands of our hard-working SMB clients.”
“The Clarus team is very excited to join TriNet, a world-class organization with a very impressive leadership team. Our shared commitment to go above and beyond to support our teams, our customers, and the small business ecosystem aligns perfectly with our culture and the growth strategy of our company,” said Chris Winslow, former Chief Executive Officer at Clarus, now leading TriNet’s newly created Tax Credits Business Unit, reporting to Samantha Wellington. “We look forward to leveraging TriNet’s scale to help us continue to accelerate our product roadmap in support of our customers and partners.”
As part of the acquisition, Clarus R+D will become a wholly owned subsidiary of TriNet. In addition to Winslow, all other members of the Clarus leadership team will remain in their same (or similar) roles.