Investor Group fires up with acquisitions
Investor Group continues its acquisition assault on regional accountancy practices with plans to acquire the regional Victorian firm Archer Witham, taking the total number to 12 independent firms around Australia.
In the group's first acquisition since merging with accountancy giant PKF last month, it will pick up the three offices of Archer Witham and a financial planning division with more than $100 million funds under management.
Investor Group managing director Kevin White says Archer Witham currently has a proper authority under Lonsdale, and believes moving to Investor Group will not be a major transition for the group.
A further tuck-in acquisition has also been revealed, with Dubbo based Investor Group member firm Darcy Kennedy to acquire McGee's Accountants in West Wyalong, in the Western Plains region. White says the practice is already in the stages of developing a financial planning service through Darcy Kennedy's financial planning division, and the merger will help to advance the process.
The latest acquisitions are consistent with Investor Group's focus on regional firms, White says.
"Our strategy is to get a limited number of large regional firms, and then help them carry out their own acquisitions," he says.
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