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Mid-market accounting firm MGI has flagged mass expansion plans while announcing a Victoria-based practice has joined the MGI network.
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MGI brings new Melbourne practice on board
20 November 2014
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MGI has brought the MPR Group, a four-partner firm based in Melbourne, into its network to replace its own Melbourne practice which was acquired by PwC earlier this year. MGI Australasia Chairman Grant Field said he is thrilled to have the MPR Group join the firm.
"MPR is an outstanding firm and brings complimentary as well as additional practice skills to the group," he said.
"To me the key is cultural fit. There have been any number of firms over the past nine months that we could have brought on board to put a flag on a map and say ‘Yes, we’re set once again in Melbourne’, however for us it’s more than just having a place on a map."
Mr Field told AccountantsDaily that he expects MPR to be the first of many firms to come on board over the coming months with MGI currently in discussions with a number of practices to join the MGI network. The firm plans to double its size over the next two years.
“We are on an active program and are communicating with firms in a large number of provincial cities across Australia and New Zealand.”
“There are a couple of firms that we are in quite detailed discussions with so I’m hopeful that in the new year we will be able to announce another one or two of those firm joining MGI,” he said
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MPR Founding Partner Marc Peskett said he and his partners were excited by the prospect of joining the larger firms and looking forward to the next step in the company's progression.
“Joining a group ranked the eighth fastest growing in Asia with regards to size is both a privilege and an opportunity,” he said. "We see this as a great way to service our existing clients, particularly those with global aspirations, and to lift our own firm’s profile and reach in the process.”
MPR Managing Partner Matt Murphy said joining MGI seemed like an natural fit.
"This is a strategic move for us. We serve businesses ranging from small to medium, to the family business arena to large publicly listed entities. MGI brings a lot to the table for all of those clients. We also compete against the big four quite often and this size, depth and breadth frankly, helps us. Critical to our decision making was the ability MGI gives us to partner with some 300 MGI firms across 85 countries, this is of key benefit for some of our clients as they pursue global expansion.”
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