WHK Group is to acquire Perth-based accounting firm Grant Thornton Perth, in the process increasing its total acquired revenue for the current financial year to more than $51 million.
Grant Thornton Perth was purchased as part of WHK’s ‘tuck in’ strategic acquisition program, and brings the number of ‘tuck in’ acquisitions to 18 in the past eight months.
The most recent ‘tuck in’ by the group was the acquisition of a 30 per cent stake in Sydney accounting firm Next Financial last month.
Grant Thornton’s acquisition, which is expected to be effective from July 1, involves the payment of cash and the issue of approximately 600,000 WHK Group shares.
The firm will adopt the WHK Horwath name from July 1, consistent with WHK Group’s affiliation with Horwath International on March 21 this year.
It is described by WHK Group as a “long established, high profile CBD accounting firm with 6 partners, about 65 staff and annual revenue of approximately $9.5 million”.
Company secretary Bruce Paterson said it would provide WHK Group with a “strong presence in the sharply growing wider Perth market, as well as extending our capital city network in Australia”.
The Perth firm offers traditional accounting and tax services to the mid tier public listed company, small and medium enterprise and high-net-worth markets, covering a wide range of sectors.
It also provides a tax training service to over 100 smaller accounting firms across WA, and has specialist skills in succession planning for business owners.
