CountPlus’ member firm completes acquisition

acquisition/Countplus/arch-capital/matthew-rowe/

17 September 2020
| By Oksana Patron |
image
image image
expand image

New South Wales-based CountPlus member firm AdviceCo, which provides accounting, tax and wealth management solutions, has completed a tuck-in acquisition of the accounting revenues of Arch Capital under the CountPlus ‘owner – driver, partner’ model. 

The transaction, which was structured as a cash payment of $0.4 million, with 65% to be paid on completion and the balance dependent on recurring revenues spread over two 12-month periods post completion, was said to be in line with CountPlus’ continued focus on strategic growth. 

 “Whenever we review a potential acquisition, our due diligence goes beyond just financial performance. Cultural fit is a vital component as we drive to ensure we match complementary, quality firms with a client-centric approach,” CountPlus chief executive, Matthew Rowe, said.  

The acquisition would be expected to help broaden AdviceCo’s accounting fee base, adding additional scale to the firm’s client offering, the firm said. 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

5 months ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

5 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

7 months 1 week ago

The FSCP has issued a written direction to an adviser who charged clients “extraordinary fees” for inappropriate and conflicted advice, as well as encouraged them to swit...

1 week 5 days ago

ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager. ...

3 weeks 1 day ago

ASIC has confirmed the industry funding levy for the 2024–25 financial year, and how much licensees can expect to pay....

2 days 17 hours ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
2
DomaCom DFS Mortgage
95.46 3 y p.a(%)
5