SOLD
Accounting Practice
- Adelaide CBD, South Australia -

This long-standing accounting firm, located adjacent to Adelaide’s CBD with fees circa $1.2 million, presents a unique opportunity for collaboration. The firm seeks to transition 80% of its equity over time, offering an ideal prospect for a more significant, like-minded progressive firm to join forces and expand services. This merger/sale aims to provide clients with a broader skilled professional environment while ensuring the seamless delivery of high-quality tax, compliance, and business advisory services.

The firm specializes in servicing privately owned family businesses and their individual family members. Its range of services has been evolving and includes business advisory, governance, succession, estate planning, and family office offerings. Additionally, its budget and VCFO services have experienced significant growth in recent years.

Referrals remain a key source of growth, supported by the firm’s proactive social media presence, which has enhanced visibility and brought in new clients.

Key Operational Highlights:

• Client Base & Lodgements: FY 2023 lodgements totaled 785, averaging $1.3K each. Breakdown includes 295 ‘I’ returns, 9 partnerships, 79 trusts, 69 companies, 28 super funds, 25 FBT, and 280 activity statements.
• Client Profiles: Top 20 client groups account for 56% of revenue, with the largest contributing 7.1%. Clients span diverse industries and are primarily Adelaide-based, many with relationships extending over 10–35 years. Contacts range from 40 to mid-seventies, with an average age of 57; succession plans are in place for key groups.
• Revenue Opportunities: Core services include tax and compliance, with a growing focus on VCFO, succession planning, governance, and family office offerings.

Staffing & Technology:

• Team comprises a mix of onshore and offshore staff, including a longstanding accountant and administrator.
• Utilizes leading software such as Xero, Class, FYI Docs, Change GPS, Light Year Docs, and Now Infinity.

Office & Future Plans:

• Current lease extends until December 2025, offering stability during the transition.
• The senior partner aims to gradually phase out, while the remaining partner is eager to leverage additional resources and skills for the firm’s continued growth.

This collaborative opportunity is ideal for a firm seeking to expand into Adelaide’s thriving market or diversify its service offerings. The phased sale ensures a smooth transition, supported by an experienced team and established client relationships.