CountPlus member firm Mogg Osborne has completed a tuck-in acquisition of Freedom Accounting Group.
The acquisition was structured as a cash payment of $0.7 million with an initial payment on completion and a balance dependent on recurring revenue for the 12-month period post completion.
Marian Adams, retiring principal of the Albury, NSW business, would remain on hand to ensure a smooth transition and Freedom Accounting clients would now access financial advice through Mogg Osborne.
It would expand the footprint of Mogg Osborne which worked in regional towns close to the Victoria and NSW border.
CountPlus chief executive, Matthew Rowe, said: “CountPlus is pleased to see the expansion for Mogg Osborne because we’re true believers in the value that quality accounting and financial planning can provide to Australians, especially family and small businesses in rural communities who have faced unique challenges in recent times.
“This acquisition speaks to the quality tuck-in opportunities that are available to the CountPlus network due to our strong balance sheet and strategic growth focus.”