WHK Group still hot on acquisition trail

Listed financial planning and accounting business WHK Group will acquire three new practices, including a Cairns-based financial planning and accounting practice operating under the William Buck brand.

Formerly known as Investor Group, WHK has reached in-principle agreement to acquire William Buck Cairns, as well as two small accounting practices in South Australia and NZ.

This acquisition of WBC from July 1 will increase the number of stand-alone member firms in the WHK Group to 21, comprised of 18 Australian firms and three New Zealand firms.

It follows the acquisition in February of Colenso Financial Planning, the affiliated financial advisory arm of Colenso Accounting, as part of an ongoing strategy of expansion through acquisition of both accounting and planning practices.

One of Australia’s oldest accounting practices, with origins dating back to 1888, WBC will become WHK’s second stand-alone member firm located in North Queensland, following the acquisition of TCM Partners in Townsville in 2004.

WHK has also made an in-principle agreement to purchase JN Couch & Associates, an Auckland accounting practice that will be merged into Gosling Chapman, a WHK Group member firm since April 2005.

The remaining acquisition, Bartsch & Co, is an accounting practice in Loxton, South Australia, which will be amalgamated into the existing Loxton operations of member firm WHK Thomsons.