William Buck to open doors in Canberra, eyeing government clients
The mid-tier firm will acquire accounting boutique Link Capital Partners effective 1 July.
Mid-tier firm William Buck is set to expand into the nation’s capital with the acquisition of a boutique accounting firm, eyeing business from government clients as trust in the big four declines.
The firm’s acquisition of Link Capital Partners, a boutique located in the heart of Canberra, would be effective on 1 July, it announced this week.
NSW managing partner Greg Travers said William Buck planned on filling a “noticeable gap” for a fully integrated firm that had middle market expertise in the state.
Its “optimal size and footprint” also meant it was primed to provide government clients with a range of audit and tax services, capitalising on a downturn in demand for the big four.
“We’re well-equipped to work with government agencies, assisting them in promoting transparency and accountability in their use of public resources”, Travers said.
“Utilising our mid-market expertise and commercial approach, we are set to offer a wide range of valuable services including audit and tax advice.”
Parliamentary inquiries and media scrutiny triggered by the PwC tax leaks scandal last year has permanently tarnished the reputation of the big four, according to a recent survey by research firm Beaton Research + Consulting.
More than half (57 per cent) of government clients surveyed said they would not consider using a big four firm for their future needs, turning to mid-tier firms instead.
Mid-tier firms that currently have a presence in Canberra include RSM, PKF and Bentleys. The acquisition would be William Buck’s fifth in as many years, it said, a testament to its commitment to growth “both organically and through merger opportunities”.
Travers said Link Capital Partner’s client relationships also meant the firm would have solid foundations in the state.
“Link Capital is a firm distinguished by its robust practices and strong relationships in the ACT,” he said.
“This merger lays a solid foundation for growth, and we plan to strategically expand our expertise to better serve clients in the region,” he said.
Angus Kenyon, a partner at Link Capital Partners, said he was excited about the move, which allowed his firm to service clients with a greater range of resources.
“We’re excited about our future and remain committed to providing an exceptional experience to our clients and people,” he said.
“Joining William Buck enables us to deliver a broader range of services and deeper technical knowledge with the same personalised approach that our clients have come to expect.”
Kenyon would move to the firm along with partners Ben Weber and Domenic De Marco, as well as Link Capital Partner’s entire team of staff.
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