Kartesia provides £48M financing package to SKS Business Services - Kartesia
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Kartesia provides £48M financing package to SKS Business Services

Press Release
24.10.2022

Kartesia, the European specialist provider of capital solutions for small and mid-sized companies, is pleased to announce that it has provided a full financing package, comprised of debt and equity to SKS Business Services, a London-based accountancy and tax services business (“SKS” or “the Company”).

Founded in 2007, SKS is a leading provider of accountancy, tax and finance services to more than 12,000 UK-based small and medium-sized businesses. Under the stewardship of founder CEO Sanjay Swarup and his Management team, SKS has actively pursued a buy-and-build strategy, acquiring and integrating over 16 acquisitions over the last 8 years.

Kartesia has committed £48m of capital from its KCO IV and V funds, with the proceeds being used to support the refinancing of existing debt facilities, financing a strong pipeline of acquisitions, and other working capital purposes. 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.”

Sanjay Swarup, CEO of SKS Business Services, commented: “SKS welcomes Kartesia both as a shareholder and a debt partner. We thank Clearwater, our advisors, who were an excellent help during the process.  The new financing will enable us to continue leveraging our decade long buy and build experience.  SKS Group are a full function accounting and tax consultancy provider with expertise in many sectors.  We also run outsourced finance departments for SMEs, helping them to reduce costs and focus on strategy, sales and operations. We continue to drive efficiencies in the UK Accounting and SME Finance Function marketplace. This includes an even greater focus on automation, service levels to clients and further mergers.  The sector is rightly evolving, and we look forward to being leaders in that process’’.