SYDNEY, AUSTRALIA: Count Limited through its Victorian subsidiary firm Kidmans Partners has announced the purchase of the accounting client book of Business Accounting Melbourne.
Business Accounting Melbourne is a modern practice that specialises in the automation and implementation of systems and technologies to streamline all accounting and bookkeeping processes.
The business has accounting revenues of around $0.85m. Consideration for the transaction is $0.76m, with 65% payable on completion and the remainder deferred over two years.
Count Chief Executive Officer Hugh Humphrey said the acquisition continued to drive Count’s strong and consistent growth.
“This transaction is further evidence of Count’s growth strategy which will expand
Kidmans’ client base and associated accounting revenues. Kidmans is a successful and established financial services business in Melbourne and the clients of Business Accounting Melbourne will benefit from their expertise, experience and client-first approach.”
Count currently holds a circa 64% shareholding in Kidmans.