Listed aggregator WHK Group continues to build its advisory empire, with the firm acquiring a further four financial services businesses.
WHK announced yesterday it had acquired three accounting practices as well as a finance broking practice.
The company has also purchased a fee parcel from a finance broking firm.
Under the terms of the purchase, Queensland-based accounting practices Lisa Richards and Associates, Kingsun Accountants and Jan Lude will each merge with existing member firms within the WHK network.
Lisa Richards and Associates will merge with WHK Group's Townsville business, but will continue to operate from its premises in the Townsville suburb of Kirwin. It has annual revenue of about $800,000.
Kingsun Accountants will merge and relocate to WHK-TCM Smith's existing Townsville office. It has annual revenue of about $500,000.
Jan Lude will merge and relocate to WHK LRK-Walker's existing premises in Toowoomba. It has annual revenue of about $480,000.
Finance broking business SJ Finance will be merged with WHK Mahoney Archer/WHK Day Neilson. It has loans under administration of about $90 million and annual revenue of about $300,000.
WHK Garrotts has purchased the fee parcel of a Hobart-based finance broking business with loans under administration of about $30 million and income of around $80,000.
The acquisitions are part of WHK's tuck-in growth strategy.
The transactions have all been settled for cash and have increased WHK's total required revenue in the current financial year to about $49.8 million.
Earlier this month, WHK completed the acquisition of accounting firm KPMG Albury and its affiliate, Excel Financial Planning.
In January, it bought the Mortgage Choice franchise and risk specialist Diamond Life Financial Services.
WHK's shares declined 1 cent or 0.63 per cent to $1.58 in trading yesterday.
