Fri, 26 Jul 2024 | MERGER
RMT Accountants & Business Advisors, which is part of the Sumer group, has completed its second deal of the year after joining forces with a Durham-based chartered accountancy firm that can trace its roots back to the 19th century.
The company has invested in Ribchesters, which will now operate as RMT Ribchesters, as part of its commercial growth strategy, with the deal expected to strengthen both companies’ client service offerings across the North East and further afield.
Following the deal, the Ribchesters team will continue to provide its range of services to corporate, individuals and owner-managed businesses. The firm’s expertise in the education, charity and legal sectors is set to further boost RMT’s offering and the combined business will include ten directors and a more than 120-strong team.
The deal is the second completed by RMT Accountants since it joined Sumer in February 2024, following its acquisition of McCowie & Co, an accountancy focused on the rural and agricultural markets with offices in Newcastle and Hexham, in April.
Backing its subsidiaries to complete add-on acquisitions is a core part of Sumer’s strategy and has helped drive the group’s rapid growth since it was founded in 2023.
RMT Accountants Managing Director Mike Pott said: "The unification of our practices reflects our shared commitment to provide top-tier professional services, with a personal touch. Ribchesters' renowned expertise will boost our ability to deliver specialised solutions to clients, both existing and new, across a much broader area."
Ribchesters Director David Holloway added: "Joining RMT and the wider Sumer Group will enable us to leverage the firm's strength and reputation as we expand our footprint across the North East. We remain committed to providing a personal service to our clients, now further enhanced by support from the expansive Sumer network."
Find out more about M&A trends in the accountancy sector
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