CountPlus’ member firm completes acquisition
New South Wales-based CountPlus member firm AdviceCo, which provides accounting, tax and wealth management solutions, has completed a tuck-in acquisition of the accounting revenues of Arch Capital under the CountPlus ‘owner – driver, partner’ model.
The transaction, which was structured as a cash payment of $0.4 million, with 65% to be paid on completion and the balance dependent on recurring revenues spread over two 12-month periods post completion, was said to be in line with CountPlus’ continued focus on strategic growth.
“Whenever we review a potential acquisition, our due diligence goes beyond just financial performance. Cultural fit is a vital component as we drive to ensure we match complementary, quality firms with a client-centric approach,” CountPlus chief executive, Matthew Rowe, said.
The acquisition would be expected to help broaden AdviceCo’s accounting fee base, adding additional scale to the firm’s client offering, the firm said.
AUTHOR
Oksana Patron
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
