Gosforth based business take over North East specialist firm

Gosforth based business take over North East specialist firm
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They have confirmed that they have completed the acquisition of a North East specialist in the field, McCowie & Co.

The acquisition is the first for RMT since it became part of Sumer, UK’s fastest-growing accountancy group, earlier this year.

The Gosforth-based RMT hasn’t disclosed the sum it paid for the acquisition.

The firm, founded in 1970 by George McCowie who continues to be a consultant, has offices in Hexham and .

McCowie & Co caters to a broad spectrum of agricultural, farming and contracting businesses across North East, Scotland and North Yorkshire.

With an eight-member team, the firm also caters to the creative sector-specializing in film, television and media clients based in the North East, North West and London.

Despite its acquisition, McCowie & Co will operate as a subsidiary of RMT.

The same team will continue to service its existing clients, however, with the added advantage of having access to more resources and competence that its new owners, RMT, can provide.

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Peter McCowie, partner at McCowie & Co, has said: “It gives our respective clients access to significant new resources and expertise, and we’re excited to now be part of a North East business that’s got big plans for the future.”

RMT accountants, established in 1954, provide a variety of financial and business advisory services.

This includes accountancy, specialist tax, medical and healthcare, corporate finance and recovery & insolvency teams.

Investing in successful accountancy firms throughout the UK to form regional centers which focus on the SME market, Sumer, a top 15 UK accountancy group, has grown rapidly by completing 12 co-investment transactions over the past year.

Mike Pott, managing director at RMT Accountants & Business Advisors has said: “Becoming part of a nationwide organization 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.

“We’ve known the McCowie team for many years and have huge respect for their specialist knowledge and impressive, long-term business performance.

“We’re very pleased to have completed this first acquisition as part of Sumer and are now looking at a number of other potential acquisitions.”

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