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Accounting group enters Victorian market with latest acquisition

A Sydney financial services network has announced the acquisition of a Melbourne-based firm as it looks to enter the Victorian market.

M&A Tony Zhang 09 September 2020
— 1 minute read

AZ NGA has acquired Matthews Steer Accountants and Advisors, a Melbourne firm founded in 1990 that includes six partners and 50 staff.

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The acquisition will see AZ NGA expand into Victoria, having initially concentrated over 65 SME accounting and financial advisory acquisitions in New South Wales and Queensland.

AZ NGA chief executive Paul Barrett said the acquisition would allow Matthews Steer to leverage on the resources of the network, which is backed by European investment firm Azimut Group.

“In Melbourne’s north-west corridor of industry, Matthews Steer is the trusted adviser to leading businesses and families in the region. It has built a reputation as the region’s premier accounting and advisory firm by delivering excellent service and advice, and helping local businesses achieve strategic results,” Mr Barrett said.

“Matthews Steer exemplifies the characteristics we look for in a partner firm. It has a clear strategy, it has successfully carved out a niche in specialist areas and it has a collaborative, client-centric culture.”

Matthews Steer co-founder and managing director Ken Matthews said the deal would help bolster its capabilities, including its specialisation in business and tax advisory, business mentoring and government grant facilitation.

“We see AZ NGA as a strong cultural fit with Matthews Steer, and their alignment with our purpose and values was of primary importance in entering into this strategic partnership,” Mr Matthews said.

“Their investment in Matthews Steer will provide greater capacity to continue to support our clients and extend our services to other entrepreneurs and family businesses.

“I’m excited to see our team continue to thrive as part of this strategic alliance and to empower them to live their potential.”

Accounting group enters Victorian market with latest acquisition
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