Countplus MBT completes acquisition of Loughhead Roberts
Countplus subsidiary, Countplus MBT, has completed its acquisition of Loughhead Roberts, a two-partner chartered accounting and financial planning practice in Parramatta, Sydney.
The acquisition gives Countplus MBT, based in St Leonards, northern Sydney, the opportunity to develop operations in the growing population hub of Parramatta.
Longhead Roberts was founded 35 years ago, and has provided accounting and compliance services, and more recently, financial planning services to small businesses and individuals. The firm’s total revenues are approximately $2 million, with 85 per cent of this related to its accounting services.
The acquisition will cost Countplus MBT $1.23 million, payable in cash over two years, and will add earnings per share in 2011-12.
Countplus MBT is part of an Australian network of accounting, financial planning and finance firms, Countplus, which was established as a subsidiary of ASX listed Count Financial Limited in 2007.
AUTHOR
Angela Welsh
Recommended for you
With Fortnum Private Wealth and Professional Financial Services now unified under the Entireti umbrella company, CEO Neil Younger has detailed to Money Management the firm’s new direction and future expansion.
The FAAA has suggested looking offshore for overseas financial advisers to ease the adviser shortage, but are employers willing to take on the burden of workplace visas?
There may be a huge influx of alternatives coming to the market, but timing and access difficulties mean advisers can easily end up disappointed with their selection, according to Morningstar global CIO Dan Kemp.
An NSW individual has pleaded guilty to one criminal charge of providing unlicensed financial services after promoting crypto investments at national seminars.
