WHK Group has snapped up a large accounting business in Perth and now only needs a presence in Brisbane to complete its capital city network.
Australia’s fifth largest accounting firm has acquired the Perth office of Grant Thornton, which has annual revenue of $9.5 billion.
The deal will be finalised on July 1 and brings the group’s total acquired revenue in the current financial year to $51 million.
“We think the growth prospects there are really strong, not just because of the economy in Perth, but because the people in the firm are really good,” WHK Group chief executive officer Graeme Fowler said.
“They don’t have a lot of financial services at the moment, but they’ll work with us on that. It’s all terrific.”
A key piece in securing the firm was the overseas links and global service capability offered by the group’s partnership with Horwath International.
The deal compromises cash and shares in WHK Group. Fowler would not disclose details.
The firm will move from Grant Thornton to the WHK Group badge.
WHK Group’s network of member firms comprises 21 accountancy companies and one specialist financial planning firm located in six Australian states and the North and South islands of New Zealand.
It has more than $7 billion in funds under advice.
