CountPlus firm AdviceCo has completed a tuck-in acquisition of Arch Capital, absorbing its accounting revenues and growing its business.
AdviceCo, which has offices across Sydney, Gosford and Wyong, has broadened its accounting fee base with the deal, adding scale to the firm’s client offering.
The acquisition has been structured as a cash payment of $400,000, with 65 per cent being paid now and the balance dependent on recurring revenues spread over two 12-month periods post completion.
CountPlus reported it has continued its focus on strategic growth, with it seeing Arch Capital as having a “high-quality client base and strong client-first culture”.
CountPlus chief executive Matthew Rowe commented, “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.”
AdviceCo managing principal David Evers said, “Arch Capital meets our criteria for quality both in the firm’s terrific client base and in its high service standards.
“We look forward to continuing the quality delivery legacy of Arch Capital amongst its clients and to offering a broader range of services over time.”
AdviceCo describes itself as a full-service provider, offering accounting, tax and wealth management.
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