Register to get free articles
Want unlimited access? View Plans
Already have an account? Sign in
RMT Accountants and Business Advisors has expanded its presence in the rural and agricultural sector by completing the acquisition of McCowie and Co for an undisclosed sum.
The acquisition is RMT’s first acquisition since becoming part of Sumer earlier this year.
Founded in 1970 by George McCowie, who still acts as a consultant to the firm today, McCowie and Co has offices in Hexham and Newcastle, and acts for a wide range of agricultural, farming and contracting businesses across the North East, Scotland and North Yorkshire.
It has an eight-strong team and is also very active within the creative sector, with film, television and media clients located in the North East, North West and London.
McCowie and Co will operate as a subsidiary of RMT, with the same team continuing to service its existing clients, but with the additional benefit of access to the additional resources and expertise that its new owners can offer.
RMT’s management team currently has several further regional acquisition opportunities under consideration.
Peter McCowie, partner at McCowie and Co, said: “We’ve been operating successfully for more than 50 years and have built a very strong reputation for the firm in specific markets.
“We looked at a number of options for the future of the firm and felt that becoming part of RMT made a great deal of sense for everyone involved. 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.”
Mike Pott, managing director at RMT Accountants and Business Advisors, added: “Becoming 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.
“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.”
