Bailey Group Chartered Accountants are pleased to announce its merger with one of the UK’s fastest growing SME-focused finance outsourcing, accounting services and tax/business advisory firms, SKS Business Services.

 

Bailey Group, now known as SKS Bailey Group, will form part of SKS’s impressive expansion plans, which will see them aim to become the leading accounting services provider to the UK SME sector nationwide.

 

London-headquartered SKS now has a presence in five out of the eight UK regions, including London and the South East of England, the East of England, the North West of England, and now also the North East of England.

 

Founded in 2006, Bailey Group Chartered Accountants is headed by Christopher Bailey. Bailey Group is headquartered in Peterlee, County Durham, from which it operates ten offices located across the North. Bailey Group provides high-quality business advisory and accounting services to more than four thousand SME clients, providing SKS with a strong presence and established customer base in the North-East region.

 

SKS Business Services, complete with the Bailey Group merger, now contains twenty-five offices across the UK and with nearly 11,000 SME clients.

 

The funding for the acquisition was provided under a committed acquisition facility of £20 million by Shard Credit Partners. In recent years, SKS has successfully acquired eleven businesses using funding from Shard Credit Partners.

 

The new up-scaled operation means the firms can offer a more personalised service to their clients while enhancing their business advisory capabilities and investment in technology to meet the needs of clients in the current uncertain climate.

 

Three Directors will lead the business, including the founder of SKS Business Services, Sanjay Swarup, who started the firm up in 2008, alongside Anil Swarup and Christopher Bailey.

 

In a joint statement, they felt the merger would create considerable benefits for clients, employees, and investors, and deliver a unique client proposition that covers professional services and business advice. They believe Bailey Group is an excellent fit to the SKS group and feel very positive about the future growth of the merged firm.

 

Moving forwards, the firm will continue to offer a wide range of services, including advisory, payroll, audit, bookkeeping, management accounts, insolvency, probate, capital allowance, financial planning, tax and VAT services nationwide.

 

Christopher Bailey, CEO of Bailey Group, said: “Bailey Group are delighted to merge with SKS Business Services, they are a nationwide prestigious group that will help us provide the highest level of client service.”

 

“I look forward to continuing my role within Bailey Group. Merging with SKS has provided us with the opportunity to offer a service that is focused on business advice, backed up with a range of more sophisticated services.”

 

“This is important, particularly in the current climate, as so many local businesses are facing financial problems and are looking for practical help and guidance from their accountants to plan for an uncertain future. We look forward to continuing to grow across the North East with SKS.”

 

Sanjay Swarup, CEO of SKS Business Services, said: “SKS’s infrastructure enhances Bailey’s capacity, allowing its accountants to spend more time advising clients through these extra-ordinary times we find ourselves in. “

 

“I find Chris Bailey a no-nonsense person who is equally committed to providing business advisory, value for money accounting and tax services to his clients.”

 

“Pooling together complementary strengths from each firm will expand the services on offer to our clients and develop current relationships further. We look forward to gaining expertise from the Bailey Group and look to develop new business opportunities together.”

 

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