WHK Group is set is to acquire Australia’s Grant Thornton Perth, according to published reports.
The purchase is part of WHK’s ‘tuck in’ strategic acquisition program, bringing the firm’s number of acquisitions to 18 over the past eight months.
Grant Thornton’s acquisition, which is expected to be effective from July 1, involves the payment of cash and the issue of approximately 600,000 WHK Group shares. The deal will bring WHK’s acquired revenue for the current financial year to more than $51 million.
The firm will adopt the WHK Horwath name from July 1, consistent with WHK Group’s affiliation with Horwath International as of March 21.
WHK Group has 6 partners, about 65 staff and annual revenue of approximately $9.5 million. The firm is Australia's second-largest provider of independent financial advice, and the deal will be its first move into western Australia. It has a network of 21 accounting member firms and a specialist financial planning firm -- located in six Australian states and New Zealand.
The GT Perth firm offered traditional accounting and tax services to midsized public companies, small and midsized enterprise and high-net-worth markets. The firm also provides a tax training service to over 100 smaller accounting firms.
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