In what it said is the first of an expected round of selective growth transactions, Countplus has acquired a 40 per cent stake in Victorian-based O'Brien Accountants & Advisors.
In a statement, Countplus said the O’Brien transaction signalled an opportunity to optimise the convergence trend between high-quality accounting and advisory services firms.
“O’Brien is a standout, second-generation family business with great people, a client-centric culture – and it brings a clear growth and values mindset in line with that of CountPlus,” said CountPlus CEO Matthew Rowe.
Count said that in 2017, O’Brien attained the status of the number one quality firm in the Count Financial network nationally and is currently the largest Count member firm in Victoria.
Rowe complimented the O’Brien leadership team on meeting CountPlus’ acquisition criteria.
The O’Brien transaction is the first investment made by CountPlus under its “Owner, Driver – Partner” model, whereby CountPlus remains an equity partner alongside firms that ‘own and drive’ their future growth and profitability.
“O’Brien is a genuine fit to the ‘family photograph’ for us. Adopting our Owner-Driver, Partner initiative gives the right level of autonomy to the firm and the benefits of the financial and intellectual capital that CountPlus has to offer,” Rowe said.
“The O’Brien acquisition begins the growth chapter for CountPlus, as we shift from looking within, to identifying external opportunities to grow our network.”