William Buck Melbourne joins Grant Thornton

Embargoed until 00.01 9 May 2008

Grant Thornton today announced its intention to merge with William Buck Melbourne, to strengthen its presence in Victoria and reinforce the reach of Grant Thornton nationally.

William Buck Melbourne will merge its operations with the existing Melbourne office of Grant Thornton and change its name to Grant Thornton on 26 May.

Robert Quant, National Chief Executive Officer Grant Thornton, said: “We are excited to announce this merger with one of Melbourne’s most respected and successful business advisory firms.  This is an exciting step forward for Grant Thornton, as we continue to grow and strengthen our position in the Australian market.

“What attracted us most to William Buck Melbourne was the fact that we share the same values, particularly a strong focus on building quality client relationships and recognising the importance of providing regular client access to partners.

“We also see strong synergies in terms of a shared focus on the corporate and SME markets and similar breadth and depth of technical expertise. William Buck Melbourne will bring considerable experience and expertise to the clients we service in Victoria and around the country.”

Ian Herman, Managing Director of William Buck Melbourne, said: “William Buck Melbourne is joining its operations with Grant Thornton as a natural extension of our growth strategy.  We were looking for a partner to grow with, to secure a successful future for our clients and our people.

“Grant Thornton has a strong national and international network, excellent business frameworks and shared systems. Both from a cultural and a strategic perspective, Grant Thornton is a great match for us and we believe that together we can provide a highly competitive service offering.”

The merger validates Grant Thornton’s decision to become a single national firm, reinforcing its position as a market leader and taking its turnover to $160 million with 100 partners and over 800 staff.  William Buck Melbourne is the second firm to join Grant Thornton since it signalled its intention to move from a federated to a national structure, with the Perth office of Bentley’s MRI joining Grant Thornton in September 2007.

Outside the Big Four, Grant Thornton is now the leading national accounting firm in Australia, offering a truly national and international capability from the key capital cities.

Concluded Robert Quant: “There will continue to be a change in the mid-tier accounting market in Australia and Grant Thornton will take a leadership position in shaping this market.  We remain on the look-out for other like-minded partners to merge with and create a real alternative in Australia to the Big Four.”

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To download a PDF copy of this media release, please click here.

For further information or interviews with Robert Quant or Ian Herman please contact:

Ben Findlay or Charlotte Juhasz
Horizon Communication Group
T +61 2 8572 5618 / +61 404 157 121 or +61 2 8572 5600
E ben@horizoncommunication.com.au or charlotte@horizoncommunication.com.au

Notes to editors:

About William Buck Melbourne

Founded in 1895, William Buck Melbourne and has grown from a small suburban practice to one of Melbourne’s fastest growing and most successful mid-tier firms.

William Buck Melbourne has 23 partners and over 280 staff.  It prides itself on investing in its culture and people and is known for its premium value on strong client relationships.

In addition to traditional accounting and business advisory services, the firm also offers particular expertise in business consulting, transformation, business process outsourcing and corporate finance.  The firm also has significant experience in niche sectors including: Manufacturing, Automotive, Healthcare and Aged Care.

About Grant Thornton Australia

From market-leading services for the owners of private businesses, to audit, to insolvency and capital markets services for corporations, and to innovative taxation and wealth management services for individuals, Grant Thornton in Australia helps business owners achieve success and realise their ambitions.