Publicly-listed accounting and advice group, CountPlus has pointed to the success of its new “owner-driver” model which has seen its member firm, Robson Partners acquire 100 per cent of another NSW regional accounting and advice practice, Walker and Andrews.
Under the new “owner driver” arrangement, the principals of Robson Partners also completed an equity buy-back with Count Plus moving it out of the firm’s 100 per cent ownership model to a partnership arrangement whereby firms partner with CountPlus under agreed terms and shared process and controls.
Count Plus chief executive, Matthew Rowe said the transaction represented a strong example of what he described as the company’s “refreshed ownership model”.
“This ‘best of both worlds’ approach, will ground firms with a strong notion of perpetuity and custodianship, as well as a renewed strength to overcome the myriad challenges that operating and growing a successful practice brings,” he said.
Rowe said he believed the “Owner-Driver, Partner” model would set CountPlus apart from industry aggregators and consolidators, among its competitors.
Under the arrangement, Stephen Walker and Gerard Andrews from Walker and Andrews will remain with the merged entity, while David Evers from Robson Partners will be managing director.
The CountPlus announcement to the Australian Securities Exchange (ASX) said Evers, Walker and Andrews together with Troy Marchant would own 30 per cent of the merged entity, with the balance being retained by CountPlus.