Wed, 06 Nov 2019 | BUSINESS SALE
SKS Business Services has announced the acquisition of four companies, with the help of a £10 million financing from Shard Credit Partners.
SKS is a firm of chartered-accountants that provides accounting, bookkeeping, tax, payroll and other outsourced services to a customer base largely consisting of SMEs in the South-East of England. It has 60 UK-based staff in the UK, along with 155 professional support staff located across four offices in North-West India
The initial senior secured unitranche facility through Shard Credit Partners Fund I, has seen a rapid acceleration in SKS’s acquisitive growth strategy since it was awarded in May 2018. The financing has enabled SKS to rapidly grow its national presence.
SKS has now acquired a total of 18 companies since November 2013, including 10 companies under its buy and build strategy.
The four new companies acquired are Westlake Clark, which has a presence in Southampton, Lymington and New Milton, Stevenage-based Baker Watkins, Bury-based Thompson Jones; and Buckinghamshire-based Cansdales.
SKS Managing Director Sanjay Swarup said: "SKS's acquisition-led growth strategy is now proven and continues to drive interest from accounting business owners looking for an exit through a sale. We have a strong pipeline of acquisition candidates throughout the UK and expect to complete several more transactions in the coming months."
Alastair Brown, Chief Executive of Shard Credit Partners, added: "SKS's remarkable growth story over the past 18 months is a testament to our strategy of providing transformative growth capital to SMEs in the UK lower mid-market to unlock rates of growth not otherwise achievable with other forms of financing.
"Its unique proposition of securing acquisitions at attractive EBITDA multiples in combination with post-completion restructuring and offshoring of accounting work to India is highly EBITDA accretive."
Benefits from high staff retention rates and a wealth of experience within the sector. Member of the Association of Professional Staffing Companies (APSCo) as a result of its excellent offering. Ideally positioned to pursue further growth, which coul...
LEASEHOLD
This practice, which has been established over 80 years, is available for sale due to the impending retirement of the partners. One of the partners will be available to assist in the transition period to ensure a smooth handover of clients. Offers in...
FREEHOLD
This practice, which was established over 50 years ago, is available for sale. Consultancy: The partners will be available to assist in the transition period to ensure a smooth handover of clients. Offers invited.
LEASEHOLD
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