Growing North East business advisors RMT have snapped up a specialist restructuring practice in an undisclosed deal.
Newcastle based RMT Accountants & Business Advisors, part of the Sumer Group, has completed the acquisition of the KSA Group, which specialises in pre-insolvency solutions. The company, which has offices in Berwick-upon-Tweed, Gateshead, Edinburgh and London, works with directors and owners of struggling businesses to achieve rescues, often without the need for a formal insolvency process.
It was one of the first 海角视频 insolvency practices to use the internet to deliver its services, by launching an online portal 23 years ago. The 15-strong KSA team, which includes four directors and two licensed insolvency practitioners, is staying with the business. The combined restructuring team is being led by RMT director and head of recovery and restructuring, Chris Ferguson.
The deal marks RMT鈥檚 third acquisition since it became part of the Sumer Group, a leading mid-market accountancy practice for SMEs, making growth by acquisition a key part of its strategy. RMT completed the acquisition of rural and agricultural specialists McCowie & Co in late 2023, and it joined forces in the summer with Durham-headquartered Ribchesters Chartered Accountants, which now operates as RMT Ribchesters.
Mr Ferguson, director and head of recovery and restructuring at RMT, said: 鈥淢uch 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 海角视频 every year without the need for a formal insolvency process.
鈥淜SA has a particularly strong regional and national reputation in this respect, with the team鈥檚 skills and experience complementing RMT鈥檚 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 海角视频.
鈥淭his 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.鈥
Keith Steven, founder and managing director at KSA Group, added: 鈥淥ur 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鈥檝e needed to find the best way to move forward.
鈥淏ecoming part of a larger group will provide continuity for our expert team and a range of new opportunities, and we鈥檙e excited to be moving into this next stage of our business鈥檚 development.鈥
