Fully describe the business's activities?
This is a full featured accounting practice offering a wide range of financial and consulting services. They have a bookkeeping division operating in a Pty Ltd with annual fees of R22m and then also an independent IRBA INC with annual fees of R3m. With some 50 staff members gives you an idea of the size of the practice.
How long has the business been established?
How does the investment work and what is on offer?
There is an opportunity of a lifetime awaiting a dynamic RA to be a partner in a dynamic yet traditional audit firm. You should ideally be in the 30 to 40 age group to fit in with the succession planning strategy. In addition, you should have hands on accounting practice experience and need to be on top of all things as expected from a practitioner. This group is both IRBA and SAICA registered and your role is to be an RA partner with Attest status. Ideally, you have a client base and the cash to buy in to increase your equity position. The practice is R3m in IRBA fees and R22m in non-IRBA fees, total fees of R25m. The older partner is busy exiting the practice in a phased approach and the two younger partners need backup, means you can end up as a full status equity partner. Your own fees to be merged into the practice and cash to acquire some equity from the exiting partner will get your foot in the door. The size of your fees and own cash will get you an audience but is not the deciding factor. Your cultural fit with the why and how the practice operates, personality compatibility with the current partners and senior staff will be the determinant factors. If you think this is the life changing opportunity meant for you please contact us today, they want to get this done right now.
What is the reason for the sale?
This is part of Succession Planning and an exit strategy for the one partner. New clients, new blood from outside is the preferred route for the practice.
What deal is proposed?
This is not a job interview. The seller will be flexible to accommodate the right new partner. You will all obviously benefit if you can do an upstream merger of your practice and fees into their operation. A cash component will further benefit you and allow you to secure more initial equity. The quantum of equity is open for discussion and part of the negotiations. Your skills and cultural fit as a partner will obviously be the most important factor. So to sum it up, this is a flexible transaction that will suit the right candidate but some basics components must be met. They want this done sooner than later.
Discover similar, inspiring businesses for sale
Annual Turnover Amount between R 500 thousand and R 6 million