Countplus continues acquisitions drive
Countplus, a subsidiary of Count Financial, has made two further acquisitions of accounting and financial services firms in Melbourne and Macksville, New South Wales — taking the total number of it acquisitions to 15.
The Melbourne deal involved a 25 per cent share purchase in Kidmans Partners, at a total cost of $578,000. The firm provides accounting advice and wealth management solutions covering investment, insurance and finance brokerage, and has revenue of approximately $3.4 million per annum, funds under advice of $36.5 million and loans under advice of $42 million. Countplus has an option to buy the remaining 75 per cent of the business on agreed pricing and at its discretion from 1 July, 2010.
The second deal was a 25 per cent share purchase in 360 Financial Vision at a total cost of $442,452. Countplus also has an option to buy the remaining 75 per cent of the business on agreed pricing and at its discretion from 1 July, 2010.
360 Financial Vision offers specialised services in taxation, self-managed super funds, business structuring, business valuations, acquisitions and succession planning, and has revenue of approximately $2.14 million per annum and funds under advice of $50 million.
AUTHOR
Caroline Munro
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