Accounting company Sumer is considering a sale that could value the company at around £1bn ($1.34bn), reported the Financial Times.  

Sumer, which was established in 2022 by Warren Mead, a former KPMG UK chief operating officer, has initiated a review with the assistance of boutique adviser Continuum.  

This process could potentially lead to the complete sale of the firm. 

Sumer operates as a consolidator within the accounting sector, acquiring majority stakes in smaller accounting firms.  

Since its inception, the company has completed 34 deals and its growth is supported by private equity group Penta Capital, which has partnered with Mead and his former KPMG colleagues. 

The company boasts a workforce of 2,400 employees spread across 65 offices nationwide.  

Sumer provides a range of professional services including auditing, tax advice, and corporate finance, primarily catering to the needs of small and medium-sized enterprises. 

Sumer’s business model, which allows acquired firms to retain some independence, sets it apart from traditional consolidators that fully absorb their acquisitions.  

This approach has prompted discussions about its potential impact on the company’s market valuation, the report said.  

Industry advisers have suggested that Sumer’s valuation might be affected by its operational model, which offers less integration than that of a typical consolidator, the report added.  

Some estimates indicate that the company could be valued at approximately £700m, rather than the £1bn target, due to the perceived additional work required to unify the group’s operations. 

However, Sumer’s unique structure could influence its valuation in the event of a sale. 

Sumer has not publicly commented on the sale process, or the valuation figures being speculated, the report added.