National network looks to up bookkeeping acquisitions

One national accounting network has confirmed the acquisition of a West Australian bookkeeping firm, with a view to acquire more firms on a national scale and ultimately expand its services internationally 

Carbon Group co-founder, Jamie Davison, said the firm will be acquiring R&B Bookkeeping which is based in the Perth suburb of Claremont.

The acquisition, which is due to take place on 1 July 2017, will place R&B Bookkeeping and its current owner and manager Russell Boulton under the Carbon brand.

Mr Davison said that the acquisition will contribute to achieving his and business partner Nathan Hood’s goals of having 10 hubs across Australia.

“We’ve now got three hubs in Perth and launched in Melbourne last year. In the near future, we want to have offices in all states and territories. There are opportunities for growth everywhere,” he said.

“Ultimately, we will expand into countries with similar legal and economic systems such as Canada, New Zealand and the UK.”

After winning the Bookkeeping Firm of the Year at the 2017 Australian Accounting Awards recently, Mr Davison said Adelaide is most likely to be next on the cards for an acquisition target.

Lielette Calleja, director at All That Counts, believes that the bookkeeping profession will experience a spike in mergers and acquisitions in the mid-term, particularly as accountants and bookkeepers continue to offer clients similar services. 

“We’ve really got to start looking at forming strategic alliances, because the water is getting very grey and murky between bookkeepers and accountants,” Ms Calleja said.

“We are moving into each other’s spaces, you can’t avoid that,” she said.

 

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