A mid-tier accounting network has announced the acquisition and merger of two local firms as it seeks to expand into Queensland and northern NSW.
Mid-tier forms new entity in bid for national growth
Accounting network Moore Stephens today announced the forming of Moore Stephens Queensland and Northern New South Wales (Moore Stephens QNNSW) from the merger of central Queensland’s Powers Financial Group and south-east Queensland/northern NSW firm DKM Group.
The new entity will begin trading from 1 May, and will comprise of 16 director and principals, including 115 staff members across seven offices spanning across Rockhampton in central Queensland to Coffs Harbour in northern NSW, including a new combined office in Brisbane’s CBD.
Moore Stephens Australia’s chief executive, Peter Antonius, welcomed the formation and believed it was well positioned to take advantage of anticipated growth across the two regions, with total annual revenue expected for the first year at $20 million.
“Moore Stephens QNNSW’s established regional footprint, depth of expertise and unwavering commitment to delivering value for clients aligns with our vision for the network in Australia and around the world,” said Mr Antonius.
“With an expanded presence into Queensland and northern NSW, the Moore Stephens Australia network now has a defined footprint in key geographies across the nation.”
Moore Stephens QNNSW chair and former Powers Financial managing director, Ian Congram, said joining the Moore Stephens Australia network was the result of more than a year of decision-making and negotiations.
“This merger and subsequent joining with the Moore Stephens network cements our position as one of the leading mid-market audit, accounting, advisory services offerings across the region today,” said Mr Congram.
Greg Mallam, Moore Stephens QNNSW managing director and previous managing director for DKM Group shared similar sentiments.
“Moore Stephens QNNSW clients will continue to benefit from a full-service offering that includes business advisory, taxation, general accounting, SMSF, corporate finance, research and development, and auditing,” said Mr Mallam.