More acquisitions for Investor Group
Listed accountancy and financial planning firm Investor Group has continued its rapid expansion along the south eastern seaboard by acquiring two more accountancy businesses in Victoria.
The Pakenham-based Manhattan Taxation and Accounting Group (MTA) has annual revenue of approximately $800,000, while the Geelong-based Colenso Accounting pulls in close to $500,000 a year.
Investor Group managing director Kevin White said the acquisitions would provide MTA and Colenso Accounting clients with the opportunity to access a greater range of financial services.
Clients of the two groups will provide a sizeable pool of potential clients for Investor Group’s Victorian-based financial planners.
The purchases by Investor Group form the next chapter of what has been an aggressive growth strategy by the Melbourne-based company. So far this year it has bought Sydney accountancy and financial planning group Schoenfelds, four practices from Bentley’s MRI, Broken Hill-based firm Conolan McInnes, and accountancy and financial planning firm Hayes Knight Melbourne.
Investor Group is Australia’ s fifth largest accountancy business and at June this year was Australia’s 36th largest financial planning dealer group. Its distribution network now consists of 22 accountancy firms and six specialist financial planning practices spread across Australia and New Zealand.
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