KPMG COO quit to build an Accounting Firm Roll-Up: Now targets £1Bn valuation

• In 2022, Warren Mead (ex-COO KPMG UK) co-founded “Sumer, a UK-based accounting firm” with two former KPMG colleagues and, of course, backing from Penta Capital.
• His bet? Tap into the UK’s accounting consolidation boom.
• Now, in under three years, Mead is eyeing a potential £1 billion sale, with Continuum as its advisor, according to the Financial Times.
• Consolidator models, which buy up dozens of small firms, haven’t always delivered on their lofty promises.

Sumer’s rapid rise

In less than three years, Sumer, an accounting consolidator, has gone from 0 to the 13th largest accounting network in the UK.

• 34 acquisitions closed.