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An accounting group has pushed forward with its enterprising merger and acquisition strategy, announcing its 18th deal over the past five years.
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Accounting network presses forward with expansive M&A strategy
05 September 2019
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Carbon Group has announced a merger with Rise Business Solutions, further boosting the national firm’s presence in Western Australia.
Carbon co-founder Nathan Hood had previously worked with Rise Business Solutions’ founder, Dominic Papaluca, at Perth-based accounting firm Sterling Accountants, with the merger an “easy decision”, according to Mr Papaluca.
The merger will bring Carbon’s total partner count to 21.
“To be able to offer Carbon’s additional suite of services to our clients will really cement our relationship and help our clients achieve ultimate success,” Mr Papaluca said.
“It’s great to be working with Nathan and the team again; a team that I, and many of my clients, have known and trusted for many years.”
Carbon, originally formed as part of a merger between an accounting firm and bookkeeping firm in Perth in 2014, has been actively pursuing a number of mergers and acquisitions, with the group now represented in four states: NSW, WA, SA and Vic.
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Mr Hood said the network had no intentions of slowing down, with the latest acquisition a sign of more to come in Perth.
Carbon chief financial officer Mason Dunn had also previously said that the network plans to have a presence in every state, with plans for a Queensland firm imminent.
“We’re really looking to continue our growth in Perth by focusing on acquisition this year and into 2020,” Mr Hood said.
“By acquiring exceptional partners in the industry such as Dominic, we can be confident in saying we truly offer our clients the best.”
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