RMT Accountants & Business Advisors, part of the Sumer Group, is set to grow its presence in the business recovery and insolvency sector after completing the acquisition of a specialist restructuring practice for an undisclosed sum.
RMT has acquired the KSA Group, which specialises in pre-insolvency solutions and works with the directors and owners of struggling businesses to effect rescues often without the need for a formal insolvency process.
The 15-strong KSA team, which includes four directors and two Licensed Insolvency Practitioners, is staying in post, with the combined restructuring team being led by RMT director and head of recovery & restructuring, Chris Ferguson.
KSA has offices in Berwick-upon-Tweed, Gateshead, Edinburgh and London, and was one of the first UK insolvency practices to take a digital approach to delivering its services, with the www.companyrescue. co.uk portal it first launched in 2001 providing a range of free information and advice to business owners who are looking for help.
It is also nationally renowned in its use of Company Voluntary Arrangements (CVAs) for small and medium sized companies, with more than £31m being returned to their clients’ creditors and HMRC through KSA’s CVA work.
The deal marks RMT’s third acquisition since it became part of the Sumer Group, the UK’s leading mid-market accountancy practice for SMEs, and made growth by acquisition a key part of its commercial strategy.
RMT completed the acquisition of rural and agricultural specialists McCowie & Co in late 2023, while it joined forces in the summer with Durham-headquartered Ribchesters Chartered Accountants, which now operates as RMT Ribchesters.
Chris Ferguson, director and head of recovery & restructuring at RMT, says: “Much of the work done by insolvency professionals goes under the radar, with pre-emptive support and advice helping to save hundreds of companies and thousands of jobs across the UK every year without the need for a formal insolvency process.
“KSA has a particularly strong regional and national reputation in this respect, with the team’s skills and experience complementing RMT’s existing recovery and insolvency offering extremely well.
“The increased resources that the combined team provides will enable us to widen the reach of our business rescue and restructuring work, both within the North East and across the UK.
“This is the latest example of how becoming part of a nationwide organisation like Sumer, with a clear strategy for growth, is providing us with opportunities to bring in additional expertise which enhances the services we offer to our clients.”
Keith Steven, founder and managing director at KSA Group, adds: “Our long-term success has been based on working directly with owners and directors to provide a holistic picture of the options available to their struggling businesses and then delivering the support and advice they’ve needed to find the best way to move forward.
“Becoming part of a larger group will provide continuity for our expert team and a range of new opportunities, and we’re excited to be moving into this next stage of our business’s development.”
RMT Accountants & Business Advisors provides the full range of financial and business advisory services through its specialist teams, and works with companies of all sizes within and outside the North East, as well as internationally.
Sumer is the UK and Ireland’s leading midmarket accountancy practice, delivering professional support to small and mediumsized enterprises (SMEs) across England, Scotland and Northern Ireland, and employs over 2,000 staff across more than 40 offices.
www.r-m-t.co.uk