Grant Thornton Perth snapped up by WHK Group
Western Australian arm of mid-tier firm's international network acquired by financial services heavyweight
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.
Further reading:
Behind the numbers: mergers not made in
heaven
BDO’s Newman says GT takes fight to Big
Four
BDO Dunwoody and Grant Thornton to
merge