WHK Group, Australia’s fifth largest accounting group, has boosted its annual revenue by $5.3 million with the merger of two businesses into its empire.
Sydney accounting firm Krochmalik & Hurwitz will merge with large mid-market practice WHK Greenwoods. The combined business will have 35 principals, 280 staff and annual revenue of $43 million.
The deal involves cash and 320,000 WHK Group shares and will be effective from May 31.
Todd & Niven, an Orange accounting and financial services firm with a 70 year history, will be merged with WHK Darcy Kennedy. The new business will have 15 principals, 135 staff and annual revenue of $15 million.
The exchange involves cash and 110,000 WHK Group shares. The deal will go through on May 18.
“When completed these transactions will increase total acquired revenue in the current financial year to approximately $35.1 million,” WHK Group company secretary Bruce Paterson said.
“These transactions are consistent with WHK Growth strategy of supporting the development and expansion of core member firms into major businesses with a competitive advantage through scope and scale of operations as part of a national listed business and financial services group.”
