Matthew Rowe

CountPlus Limited (ASX: CUP) has announced its acquisition of a 40% interest in Rundles Prime Pty Ltd and a 20% interest in Rundles Financial Planning Pty Ltd.

The acquisition extends the CountPlus network from 17 to 18 member firms and is expected to be earnings accretive in the first year. Consideration for the investment is a cash payment of $2.481 million.

The existing key principals and management personnel of Rundles will remain in place and together with CountPlus will seek sustainable growth assisted by the CountPlus owner-driver partner model.

Matthew Rowe, Chief Executive Officer of CountPlus said: “We are pleased to welcome the team at Rundles into our community of firms, they are a high-quality professional practice and have an extensive track record in delivering value to clients.”

Quality firms

Rundles is a Melbourne, CBD-based accounting practice with over 25 years in business. The Principals of Rundles will retain 60% of the firm under CountPlus’ successful owner-driver partner model.

Mr. Rowe reiterated the strength of the strategic investment in Rundles: “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.”

Senior Principal, Mark Lisle, echoed the enthusiasm for the new partnership:

“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.”

Growth Strategy

This investment continues CountPlus’ growth strategy based upon its unique owner-driver partner model. CountPlus partners with professional Accounting and Advice firms to deliver strategic support, funding capital, scalable benefits and succession planning, as well as access to a professional community with aligned values and a growth mindset.

“We are focused on realising our vision to become Australia’s leading network of professional accounting and financial advice firms, aligned through shared values, mutual success and our sense of community.  This investment in Rundles is another encouraging step towards our vision reaching fruition,” Mr. Rowe said.

The post CountPlus makes strategic investment in bundles chartered accountants and financial planners appeared first on AdviserVoice.