Countplus expands accounting business
Count Financial’s wholly-owned subsidiary, Countplus, has announced that its Gold Coast based investee, the MBA Partnership, has acquired the accounting arm of financial services firm 3TM.
The final sale price was $1 million, of which $500,000 has been paid in cash, with the balance to be paid over the next two years.
3TM vendor principal Merissa Little will become a MBA employee along with a number of key professional staff.
MBA co-principal Michael Beddoes said the acquisition has expanded MBA’s existing, recurring tax client base whilst enabling financial planning and other services to be offered to 3TM clients.
“The upside from 3TM is the opportunity to provide value added services to the client base utilising the additional resources and expertise of MBA principals and professional staff in addition to obtaining superior productivity from transferring 3TM staff,” he said.
“The acquisition also enables MBA to increase its exposure to tax clients, which generally increases the quality and size of the business’ recurring revenues.”
AUTHOR
By Lim
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