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The national insolvency firm has opened its doors in Western Australia after taking over local boutique GTS Advisory.
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Mackay Goodwin ventures west with Perth boutique acquisition
25 March 2024
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Insolvency firm Mackay Goodwin has expanded into Western Australia with the acquisition of Perth boutique GTS Advisory, it announced in a statement last week.
The opening of a Perth-based office means the firm now has 12 locations across the country and a presence in every state except Tasmania.
CEO Domenic Calabretta said the move into the WA market was a strategic decision to strengthen its profile as a leader in the insolvency space.
“We are thrilled to announce the opening of our Perth office, marking an important milestone in our firm's expansion strategy,” he said.
“This new location will allow us to better serve our clients in Western Australia and further solidify our position as a leading business advisory firm in the region.”
Mackay Goodwin’s Perth office would be led by GTS Advisory managing partner Mathieu Tibrut, the firm said. GTS Advisory was founded in 2016 and specialised in providing insolvency, turnaround and business restructuring solutions to small and medium-sized businesses.
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Calabretta said: “The team has an excellent regional understanding of West Australian businesses and is already highly respected there, which will be a huge asset to Mackay Goodwin.”
Tibrut, a registered liquidator with two decades of experience in accounting and business turnaround, said he looked forward to GST Advisory’s “new chapter”.
"Mackay Goodwin has a strong reputation for delivering innovative and effective solutions to businesses navigating complex financial and operational issues. We look forward to this new chapter for the Perth business, backed by a nationally respected brand,” he said.
While WA businesses fared comparatively well during the pandemic, the ATO’s increased debt recovery activity has caused insolvency appointments in the state to spike by 83 per cent, with Insolvency Australia’s corporate insolvency index recording 633 appointments in FY2023.
In the six months to the end of December, Jirsch Sutherland's WA Insolvency Solutions received the most appointments in the state with 42, with GTS Advisory in seventh place with 21.
Nationally, Mackay Goodwin received 386 appointments, coming in fourth after Worrells (862), SV Partners (469) and Cor Cordis (442).
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