Prime acquires Queensland accounting firm

Integrated accounting, wealth management and capital advisory firm Prime Financial Group Ltd (Prime) today announced it will acquire a 100 per cent interest in Altezza Partners (Altezza).

Altezza, which was awarded Innovator of the Year in the 2016 Australian Accounting Awards, will change its name to Prime, and Altezza owners Matthew Smith and John Driscoll will become equity partners in Prime.

“Altezza is an innovative firm – as shown by its award last year – and Prime is at the forefront of innovation in the advice sector,” said Simon Madder, managing director and chief executive of Prime.

“Many of the skills in both firms are complementary, particularly when it comes to services for entrepreneurs, business and family groups.”

Mr Driscoll, who is a former Brisbane Broncos player, said the partnership with Prime is a massive boost for the company.

“To have the backing of one of Australia’s leading advisory and wealth management firms is testament to the business we have been building here in Brisbane,” Mr Driscoll said.

“When it comes to innovation, both firms are on the same page and we see many benefits for both parties moving forward.”

The deal involves cash and shares in Prime on a deferred consideration and performance basis, and is expected to settle within 14 days.