RMT Accountants & Business Advisors has completed the purchase of a veteran North East expert in the subject, expanding its foothold in the rural and agricultural sector.
The first purchase made by Gosforth-based RMT after joining Sumer, the UK’s fastest-growing accounting company, earlier this year was McCowie & Co. for an undisclosed amount.
McCowie & Co. was established in 1970 by George McCowie, who continues to serve as a consultant to the firm. The firm serves a variety of farming, agricultural, and contractual companies in the North East, Scotland, and North Yorkshire. Its offices are located in Hexham and Newcastle.
With eight employees and a busy schedule in the creative industry, it serves customers in the North East, North West, and London for film, television, and other media.
The same staff at McCowie & Co. will continue to serve its current clientele as a subsidiary of RMT, but they will also have access to the additional resources and knowledge that their new owners can provide.
The management team of RMT is presently evaluating a number of further regional acquisition options.
Partner Peter McCowie of McCowie & Co. states: “We have established a very strong reputation for the firm in particular markets and have been operating successfully for more than 50 years.”
“After considering several choices for the company’s future, we concluded that joining RMT was in everyone’s best interests.
“It provides our individual clients with important access to fresh resources and knowledge, and we’re thrilled to be a part of a North East company with ambitious future goals.”
RMT Accountants was founded in 1954 and offers a comprehensive variety of financial and commercial advice services through its teams focused on accountancy, corporate finance, recovery and insolvency, medical and healthcare, and specialised tax.
It works with a variety of foreign clients as well as UK businesses of all kinds located in and around the North East.
UK’s top 15 accounting group With an emphasis on the SME sector, Sumer is investing in prosperous accounting companies around the UK to establish regional hubs. The company has expanded quickly, having completed 12 co-investment agreements in the past year.
“Being part of a nationwide organisation like Sumer, with a clear strategy for growth, provides us with new opportunities to bring in additional expertise which will help us achieve our commercial ambitions,” says Mike Pott, managing director of RMT Accountants & Business Advisors.
“We’ve known the McCowie team for a very long time, and we have the utmost regard for their exceptional, long-term commercial performance and specialised understanding.
“We’re thrilled to have finished our first acquisition as part of Sumer, and we’re currently considering several more possible acquisitions.”