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The mid-tier firm has announced its fourth merger in 12 months as it targets double-digit growth in 2020.
William Buck acquires North Sydney firm
03 February 2020
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6 minute read
William Buck has announced the acquisition of North Sydney-based firm IACR Partners, effective from 1 February.
The merged firm will trade as William Buck, maintaining the North Sydney presence. It is understood that all IACR staff have been offered contracts with William Buck.
The latest move from the mid-tier firm follows its double acquisition in the Gold Coast and Adelaide last year, and an acquisition of a sole practitioner firm in Perth.
William Buck Accountants and Advisors’ national chair and NSW managing director, Nikolas Hatzistergos, said the deal continues a growth trajectory that’s seen the firm double in size over five years.
“We are always mindful when we undertake any merger opportunities that we identify like-minded individuals who will allow us to further enhance our service capability to all our clients, as well as contribute to our growth aspirations,” Mr Hatzistergos said.
“Having already achieved 8 per cent growth in revenue in 2019 when William Buck was ranked as the 10th largest accounting firm in the AFR Top 100, we are on track to deliver double-digit growth in 2020.”
He added: “This is very pleasing as we will also be commencing our 125th anniversary celebrations this year in May.
“Our continued growth and development wouldn’t be possible without our loyal clients, referrers and our dedicated team of over 700 people who turn up every day striving to make a difference. We continue to be very optimistic about our future growth and aspirations but mindful of the challenges within our profession.”
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- I am confused how is buying or merging a practice classified as growth? I usually tell my clients this means they are struggling for ideas and business. This is the last resort option when firms chase vanity metrics. It is not really a measure of success. In fact the opposite may be the case.1
