Accounting and financial advice firm Countplus has acquired a 40 per cent stake in Melbourne CBD-based accounting business Rundles Prime and has also picked up a 20 per cent stake in its financial advice business, Rundles Financial Planning.
The total consideration for the acquisition is a cash payment of $2.48 million and the existing key principals and management personnel of Rundles will remain in place, with the former retaining a 60 per cent stake as part of Countplus’s ‘Owner-Driver, Partner’ model.
The acquisition brings Countplus’s network to 18 member firms and Countplus chief executive Matthew Rowe welcomed the addition of the firm to its advice network.
“The Rundles business has a proven track record of excellence in client services for over 25 years. The principals and team are also much valued as part of the community. Through our rigorous selection process we have ascertained that the business and people are an excellent fit for the Countplus network,” Rowe said.
Rundles Prime senior principal Mark Lisle said: “The investment by Countplus represents a new phase for our firm as we continue to provide personalised and professional services to our clients. We value the opportunity to be part of the Countplus community and the benefits that will accrue for our clients and people as a result.”
In February, Countplus member firm 360 Financial Advantage acquired Coffs Harbour-based firm Kerry Albert & Co.