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."
Highly profitable, niche operation supplying high-quality recruitment solutions for over 18 years. Specialises in the provision of healthcare assistants and support workers for residential care homes. Strong database of over 300 professionally traine...
LEASEHOLD
Builds & implements bespoke business systems crafted to an exceptional standard including web-based digital tools social collaboration solutions & web product development for blue-chip SME & start-up clients operating in a range of industries. The co...
Provides discretionary, advisory and execution services to retail and professional clients throughout the UK and internationally. Delivers unbiased and transparent information, advice and strategies, which are tailored to meet its clients’ unique in...
LEASEHOLD
|
11
|
|
Aug
|
PPL Corp. seeks sale of Western Power Distribution | BUSINESS SALE
PPL Corporation has announced that it has put its UK utility...
|
10
|
|
Aug
|
Adelie Foods’ Urban Eat brand acquired by Samworth Brothers | BUSINESS SALE
Samworth Brothers has completed the £6.4 million acqui...
|
07
|
|
Aug
|
Wrexham-based wire firm falls into administration | ADMINISTRATION
Wire manufacturer Wrexham Wire has fallen into administratio...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources