WHK Group continues on the acquisition trail with the purchase of three businesses with combined annual revenue of $3.9 million.
Cairns-based WHK Greenwoods has become one of the largest accounting and business services firms in the area by acquiring A-Counting Plus and HLB Mann Judd (Nth Qld).
The merged business has eight principals, 80 staff, annual revenue of $9.6 million and funds under advice of $160 million.
A-Counting was bought for cash, while HLB Mann Judd's purchase involved cash and 42,000 WHK Group shares.
Victorian business WHK Armitage Downie has purchased accounting practice Casey Partners in Pakenham, Victoria. It has $600,000 annual revenue.
A fee parcel of about $100,000 was acquired for cash by WHK Mahoney Archer.
New South Wales member firms WHK Camerons and WHK Rutherfords merged on September 1. The combined business has 14 offices across the Central and North Coast with $350 million funds under management.
WHK Group managing director Kevin White said the "tuck in" acquisitions were part of its growth strategy of supporting member firms' expansion plans.
A replacement chief executive has not yet been named. Graeme Fowler resigned on July 23 so he could return to Sydney.
