Countplus has purchased a 25 per cent stake in accounting and financial planning firm Robson Partners, following the acquisition of a 25 per cent stake in Evolution Advisers just last month.
Based in Gosford on the central coast of New South Wales, Robson Partners recently undertook two accounting tuck-in acquisitions and established a separately-owned business coaching division under the Rob Nixon-founded 10X franchise, which Countplus has the option to acquire on agreed terms after three years.
Robson Partners comprises three principals, has revenue of approximately $2.65 million per year and has funds under advice of $65 million.
The total cost of $602,311 for a 25 per cent interest including net business assets was settled with $240,924 in cash and $361,386 in Count shares at a 12.5 per cent discount.
Countplus chief executive Jeremy Wardell said Countplus had recently put a dealership acquisition on hold but it had six other acquisitions in the pipeline, with two likely to be finalised before Christmas.
“We’re still expecting our largest member in Western Australia, the Lawrence Group, to settle a substantial acquisition around the end of November as well,” he said.
Countplus, which is a wholly-owned subsidiary of dealer group Count Financial, has the option to buy the remaining stakes of the businesses it acquires on agreed pricing from 1 July 2010.
“We’ve been advised by Count Financial that we’ll be exercising our call option on around 1 July next year and that listing will go ahead towards the end of 2010,” Wardell said.
“Following that we’re looking to formulate and formalise an accounting franchise in 2011, which means Countplus will own businesses as well as have its own franchise network.”
