Acquisition consultancy group Radar Results has announced the establishment of a new division that will specialise in the acquisition of accounting practices.
Radar Results operations manager Michele Conroy said the new division of the consulting company, which facilitates the sale and purchase of practices on behalf of buyers, would commence this week and be called Radar Acquire.
She said the demand by Radar Results' existing clients to acquire accounting practices had been growing for several years, and with more of the business's financial planning clients acquiring accounting firms, it was a trend that would only continue.
Radar Results managing director John Birt, who has worked with accountants for more than 26 years, would run the new division on top of his regular day-to-day tasks.
Birt said expanding the group's offering was a natural progression and would complement its existing structure.
"I see the sale price of accounting firms and financial planning firms over time moving closer together, particularly with the new fee-for-service legislation that (Financial Services, Superannuation and Corporate Law Minister) Chris Bowen wants to introduce," Birt said.
Radar Acquire would be supported by the group's existing associates nationwide and would establish alliances with industry associations and dealer groups that specialise in accounting as well, he said.
