CountPlus acquires Victorian accounting firm
The advisory company announced their subsidiary firm, Moggs Accounting + Advisory, has acquired a Victorian accounting firm.
Timothy Trevor Gubbins, a client-centric accounting firm based in regional Victoria, would be acquired by Moggs in a $1.27 million transaction.
The founder of the firm, Timothy Gubbins, would remain with the company for 12 months to support the expected transition. His firm, which demonstrated recurring revenues of $1.1 million, had been providing financial services in the Shepparton area for over 40 years.
Gubbins highlighted that the acquisition would cement their position as a leading professional services firm in the region.
Rodney McLeod, managing principal at Moggs, noted: “This acquisition is a terrific outcome for our clients as we add expertise and experience to our growing business.
“We understand the unique needs faced by communities in regional Victoria and look forward to reinforcing Moggs’ outstanding reputation for delivering positive client outcomes.”
Hugh Humphrey, CountPlus chief executive, additionally reinforced McLeod’s comments and identified that the acquisition would support CountPlus’ overall growth objectives.
“At CountPlus, we identify quality businesses that can add value to our existing member community and have the resources to make these transactions happen. This acquisition is a terrific outcome for our people and our clients,” Humphrey commented.
The news followed after CountPlus had committed to further M&A opportunities in November 2022 to boost its advisory model. The firm’s acquisition of Timothy Trevor Gubbins was expected to reach completion by 15 February 2023.
AUTHOR
Jasmine Siljic
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