Count buy-out extends reach in SE QLD

4Front, an accounting and financial adviser and equity partner of Count, has acquired the accounting book of Brisbane-based firm MD Yates & Associates for just under $1 million.

In an announcement to the Australian Securities Exchange (ASX), Count confirmed a final transaction amount of $925,000 for the purchase.

As part of the deal, principal and owner at MD Yates, Mark Yates, has agreed to transition to 4Front for at least one and a half years.

Count chief executive Hugh Humphrey welcomed Yates to the firm, adding that he would bring “experience, expertise and a like-minded culture to 4Front”.

Count owns a majority (57.6%) equity stake in 4Front. Based in Brisbane, 4Front offers accounting, financial planning and advice services for individuals and small businesses.

Last month, fellow Count equity firm Count GC, acquired the accounting fees of Gold Coast-based accounting firm Jonathan Grant Accountants (JGA). JGA has recurring revenues of around $1.3 million.