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.
