CountPlus member firm completes acquisition
CountPlus member firm O’Brien Accountants and Advisers has completed a tuck-in acquisition of accounting business Hillard O’Donnell.
In an announcement to the Australian Securities Exchange (ASX), CountPlus said the consideration for the business would be $570,000 with an initial up-front payment, and the remainder due in 12 and 24 months based on minimum revenues.
The acquisition would strengthen the business at O’Brien and add a new principal to the business in Damien O’Donnell, who would also become a shareholder in O’Brien post completion under the CountPlus owner-driver, partner model.
Matthew Rowe, chief executive of CountPlus, said: “The O’Brien acquisition of Hillard O’Donnell once again highlights the continued focus of CountPlus’ growth trajectory and investment in quality firms.
“This transaction will deliver positive outcomes for Hillard O’Donnell’s clients given the experience and expertise within the team at O’Brien.”
Earlier this year, other member firms completed tuck-in acquisitions including a Brisbane wealth management business and a NSW accounting group, both in October.
AUTHOR
Laura Dew
Recommended for you
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
Having sold Madison to Infocus earlier this year, Clime has now set up a new financial advice licensee with eight advisers.
With licensees such as Insignia looking to AI for advice efficiencies, they are being urged to write clear AI policies as soon as possible to prevent a “Wild West” of providers being used by their practices.
Iress has revealed the number of clients per adviser that top advice firms serve, as well as how many client meetings they conduct each week.
