RMT Accountants secures deal for restructuring firm KSA Group
North-Eastern audit firm RMT Accountants has purchased the KSA Group. The acquired firm 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.
Founded in 1997, KSA Group is a restructuring firm with offices Berwick-upon-Tweed, Gateshead, Edinburgh and London. Its practitioners have participated in over 500 rescues, while it also hosts an online portal serving struggling, insolvent or fast growing businesses.
The 15-strong KSA team, which includes four directors and two licensed insolvency practitioners, will remain as it is. But following the deal to become part of RMT Accountants, the professionals will join a combined restructuring team being led by RMT director and head of recovery and restructuring, Chris Ferguson.
Ferguson commented, “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.”
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. The deal marks RMT’s third acquisition since it became part of mid-market accounting network Sumer Group, after which it 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. This also presents key opportunities for KSA to reach new clients.
Keith Steven, founder and managing director at KSA Group, added, “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.”
