WHK Group expands Perth footprint
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WHK Group has increased its footprint in Perth with the tuck-in acquisition of accounting firm Hayes Knight.
The West Australian accounting firm will be acquired under tuck-in arrangements with existing WHK Group member firm WHK Horwath Perth.
Hayes Knight has four directors, 24 staff and annual revenue of approximately $3.5 million.
In a statement to the Australian Securities Exchange, WHK Group managing director Kevin White said the combined entity would be a “pre-eminent mid-tier accounting firm in the growing Perth market”.
The merged firm will have 14 principals, about 110 staff and annual revenue of approximately $18 million, WHK said.
The acquired business will continue to operate in Perth suburb Osborne Park — albeit under the new name of WHK Howarth Perth — while the CBD office will remain as is.
White said the transaction involves the payment of cash and the issue of about 630,000 WHK Group shares, which were last trading around $1.18. The transaction is expected to be effective from April.
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