SKS Business Services, one of the UK’s fastest growing mid-sized accountancy and tax firms, is pleased to announce it has just received a £48 million financing war chest for further acquisitions from Kartesia, the European specialist provider of capital solutions for small and mid-sized companies.
Kartesia is providing a full financing package, comprised of debt and equity to SKS Business Services. SKS was advised by corporate finance advisor Clearwater International.
Founded in 2007, SKS provides accountancy, tax and finance services to more than 12,000 UK-based small and medium-sized businesses. Under the stewardship of founder and CEO Sanjay Swarup, together with his 4-person management team, SKS has actively pursued a buy-and-build strategy, acquiring and integrating over 14 UK accountancy and two insolvency practices over the last 8 years.
Over the past 5 years its fee income has increased from £3.5 million to £18 million in 2021 (415%), and the financing will be used to continue integrating around larger high street accountancy practices over the next 2-3 years (typically, but not exclusively, those with £1-£10million turnover).

Sanjay Swarup, CEO and founder of SKS Business Services, commented: “SKS welcomes Kartesia both as a shareholder and a debt partner. The new financing will enable us to continue our decade-long buy and build approach to rapidly and successfully grow further in the UK accountancy market.
“Our distinctive approach involves keeping client-facing and advisory roles on the high street, while routine and compliance work is handled efficiently by our own team of accountants and technologists in India.
“Accountancy firms in the UK are struggling to recruit and retain experienced people. For many it has reached crisis point, with their services and profits suffering. Many high street accountancy firms have realised that they need to follow the large firms and have routine work processed overseas competently. SKS delivers this, and already we have a good pipeline of further mergers in place with practices looking to end their recruitment crisis.
“SKS Group is a full service accounting and tax consultancy provider, with 22 offices across the UK. We are particularly strong in providing outsourced finance function services for SME businesses, many of which are also struggling to attract and retain suitably qualified staff.”
Kartesia has committed to financing a strong pipeline of acquisitions, as well as funding for investment in further efficiency improvements through increased automation. The deal team at Kartesia comprised Guillermo Ferre and Karan Patole.
Guillermo Ferre, Director at Kartesia, commented: “Accountancy and tax services is a resilient market, and we are very excited to support Sanjay and his team on the consolidation of the space while creating a leading platform capable of offering a broad portfolio of services to its customers. We believe the flexibility of the financing solutions offered by our KCO strategy fits best with the company’s ambitious growth plans, both organic and inorganic.”