Grant Thornton Perth snapped up by WHK Group

Western Australian arm of mid-tier firm's international network acquired by financial services heavyweight

Written by David Jetuah

Accountancy Age, 30 May 2007

WHK Group, a listed Australasian financial services company, has announced plans to acquire Grant Thorton's Perth division.

ASX-quoted WHK said: 'The directors of WHK group are pleased to advise that the company has reached an agreement to acquire Grant Thornton Perth.'

The deal includes an undisclosed cash payment and the transfer of 600,000 WHK shares to Grant Thorton.

Grant Thornton's Australian network now comprises of offices in Adelaide, Melbourne, Sydney and Brisbane.

WHK, which styles itself as the 'largest provider of accounting and related services to the SME and high net worth sectors by number of clients in Australasia,' has made 18 acquisitions in the past eight months.

WHK expect the transaction to be rubber-stamped by 1 July from which time Grant Thorton will change its name to WHK Howarth,consistent with other member firms in Sydney and Melbourne.