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CountPlus Member firm O’Brien Accountants & Advisors completes tuck-in acquisition

09 Dec 2020
From

Matthew Rowe

CountPlus has continued its focus on strategic growth, with Melbourne-based Member firm O’Brien Accountants & Advisers (O’Brien) announcing it has completed a tuck-in acquisition to acquire the accounting services of Hillard O’Donnell and Associates (Hillard O’Donnell).

As part of the transaction, Damian O’Donnell (Principal at Hillard O’Donnell) will acquire an equity interest in O’Brien under the CountPlus Owner-Driver, Partner model.

Consideration for the acquisition is $570,000, with an initial upfront payment and the remainder to be paid in 12 months and 24 months based on minimum revenues obtained.

Matthew Rowe, CEO and Managing Director at CountPlus said that the transaction was a positive result for the respective teams at O’Brien and Hillard O’Donnell.

“There is a natural alignment and cultural fit between O’Brien and Hillard O’Donnell. Both businesses have robust capabilities within their team and strong reputations in their respective communities. Hillard O’Donnell has a client-centric service offering which is a central tenet of alignment with the CountPlus values and purpose.”

CountPlus’ shareholding in O’Brien is unchanged from the transaction.

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