A "renowned" restructuring advisory business has been acquired by a major player.

RMT Accountants & Business Advisors has acquired the KSA Group, 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.

RMT, part of the Sumer Group, is set to grow its presence in the business recovery and insolvency sector after completing the acquisition for an undisclosed sum.

The 15-strong KSA team, which includes four directors and two Licensed Insolvency Practitioners, is staying in post, with the combined restructuring team being led by RMT director and head of recovery restructuring, Chris Ferguson.

KSA has offices in Edinburgh, Berwick-upon-Tweed, Gateshead, and London. It was one of the first UK insolvency practices to take a digital approach to delivering its services.

It is also "nationally renowned" in its use of Company Voluntary Arrangements (CVAs) for small and medium sized companies, with more than £31 million being returned to their clients’ creditors and HMRC through KSA’s CVA work.

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The deal marks Newcastle-headquartered RMT’s third acquisition since it became part of the Sumer Group, the UK’s leading mid-market accountancy practice for SMEs, and 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.

Chris Ferguson, director and head of recovery & restructuring at RMT, said: “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.”

Keith Steven, founder and managing director at KSA Group, said: “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.”