Home Business NewsBusinessBusiness Growth News SME focused accountancy group, reaches £100 million a year after first acquisition

SME focused accountancy group, reaches £100 million a year after first acquisition

by Thea Coates Finance Reporter
13th Feb 24 1:40 pm

On Tuesday Sumer, the UK’s leading mid-market accountancy practice, announces a major milestone, hitting revenue of over £100m just 12 months after its first acquisition.

Now a top 15 UK accountancy practice, this rapid growth trajectory has been achieved by investing in the best accountancy firms right across the UK.

Sumer is a significant challenger, with over 40 offices and over 1,000 colleagues. With significant funding from Penta Capital and BlackRock, Sumer intends to continue growth on its current trajectory, providing best-in-class service to the UK’s SME communities.

Sumer’s mission is to champion smaller and medium-sized businesses, through the provision of quality accountancy and professional services. It believes this best-in-class support is vital to power our communities and the wider economy.

This rapid scale-up has been achieved through both targeted acquisitions and strong organic growth. Sumer’s strategy is to form regional Hubs throughout the UK, focused exclusively on the SME market.

The Hubs announced so far include: Monahans (South West), RMT Accountants & Business Advisors (North East), RT Marke & Co (South West), Jerroms (West Midlands), Simmons Gainsford (London), Carpenter Box (South), Cowgills (North West) and EQ Accountants (Scotland).

Further Hub announcements are imminent. These practices will continue to leverage their distinct identities to deliver outstanding service to clients locally, while offering them the advantages of a national practice. Sumer has the ability to integrate leading regional firms and provide them with the tech, scale, and breadth of expertise to enhance customer service and accelerate business growth.

Warren Mead, Chief Executive Officer of Sumer,said, “Sumer is shaking up the UK accountancy sector, and we’ve only just started. We’ve joined forces with outstanding regional firms who share our vision to champion entrepreneurs and owner-managed businesses.

“We are different because we are embedded in local communities, yet we’re able to provide our clients with the benefits of national scale.”

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