One of the North East’s longest-standing professional services firms is set for expansion after becoming part of the UK’s fastest-growing accountancy group.
RMT Accountants & Business Advisors has joined Sumer, a top 15 UK accountancy group which is investing in successful accountancy firms throughout the UK to create regional hubs which focus on the SME market.
Sumer has grown rapidly by completing 12 co-investment transactions over the last year and provides its hubs with access to enhanced technology and compliance support, as well as funding for further acquisitions and new opportunities for hub colleagues.
RMT’s existing management team will continue to lead its development and has already begun investigating opportunities for growth with acquisition a key part of its future commercial strategy.
The Gosforth-based practice, which has always held clients at the core of its business, has expanded to a team of 120 across its various service lines and is continuing to grow.
Mike Pott, managing director at RMT Accountants & Business Advisors, says: “This is a tremendous opportunity for us to make a real step change in our operations. We’re excited to become part of a nationwide organisation with a clear strategy for growth and an absolute commitment to excellent client service.
“The Sumer shared ownership model means that its hub partners retain leadership of their practices and preserve their local identity whilst benefiting from the scale and resources of a national group.
“Sumer’s ethos, values and approach match our own. With a highly skilled and expanding North East team, allied to everything that Sumer provides, we expect RMT to make significant progress.”
Established in 1954, RMT Accountants provides the full range of financial and business advisory services through its accountancy, specialist tax, medical and healthcare, corporate finance and recovery and insolvency teams.
It works with UK companies of all sizes, both within and outside the North East, including a range of international clients.
Sumer currently has over 1,000 team members spread across more than 40 offices and generates an annual turnover of over £100 million.
It is planning to continue its rapid growth through 2024 with further co-investments, together with the launch of additional services to benefit its SME clients.
Warren Mead, Chief Executive Officer of Sumer, adds: “Sumer is shaking up the UK accountancy sector by joining forces with outstanding regional firms who share our vision to champion entrepreneurs and owner managed businesses.
“We are unique because we are embedded in local communities, yet we’re able to provide our clients with the benefits of national scale.
“Our mission is to champion smaller and medium-sized businesses, through the provision of quality accountancy and professional services, which we believe is vital to power our communities and the wider economy.
“RMT has an exceptional regional reputation for the quality of its services and its team. We’re very pleased to be bringing such a well-respected brand into the UK’s fastest-growing mid-market accountancy group.”