An investee of Countplus, The MBA Partnership (MBA), has acquired 3TM, a Southport-based accounting firm.
The acquisition has expanded MBA's existing recurring tax client base, while enabling financial planning and other services to be offered to 3TM customers.
3TM vendor principal, Merissa Little, along with key members of staff, will join the financial services group, with 3TM offices to be relocated over the short-term to MBA's Gold Coast headquarters.
MBA principals Michael Beddoes, Geoff Missen and Paul Murphy said clients will be able to obtain superior productivity through the transfer of these staff, and utilise additional resources and expertise of MBA principals and employees.
The acquisition will also enable MBA to increase its exposure to tax clients, which generally increases the quality and size of recurring revenues, they said.
The total cost of $1 million was settled with $500,000 in cash, while the balance is payable over two years.
Countplus, the wholly-owned subsidiary and acquisition arm of Count Financial, acquired a stake in MBA in November last year.
