Matthew Rowe
CountPlus Limited (CountPlus) has announced that Brisbane-based Member firm Cooper Reeves Pty Ltd (Cooper Reeves) has finalised terms to merge with 4Front Holdings Pty Ltd (4Front), which is also from Brisbane. The firm will be re-branded as “4Front” and the transaction is expected to complete on 1 July 2021.
The 4Front merger will strengthen both firms and provide the necessary scale and opportunities to leverage expertise, particularly in financial planning. Revenue will double to circa $9 million, and the number of team members will increase from 26 to 53. Drue Schofield from 4Front will be appointed Managing Director of the merged firm and Christine Robinson (current Managing Principal at Cooper Reeves) will be appointed as Chief Operating Officer.
CountPlus currently owns 100% of Cooper Reeves and the company will retain at least a 51% shareholding in the merged entity, with six key members of the 4Front team to hold the remaining equity in 4Front.
Matthew Rowe, Chief Executive Officer and Managing Director of CountPlus, said the merger was an example of the opportunities that come from the ‘Owner, Driver – Partner’ model which leads to positive client outcomes.
“The merger of Cooper Reeves and 4Front is another example of how our model works on identifying and investing in quality people and businesses. The existing clients of both 4Front and Cooper Reeves now have access to a larger team with substantial experience in accounting and financial advice services.”
Christine Robinson, Managing Principal, at Cooper Reeves, said the merger would bolster the services available to clients in their community.
“4Front is a quality practice with shared core values that place the client’s best interests as its fundamental business purpose. We are excited to bring the businesses together and offer valuable financial advice services to their existing accounting clients.”
