AZ NGA has acquired a wealth management firm in Melbourne as it signals plans to expand in Victoria.
AZ NGA made a strategic investment in Matthews Steer Accountants and Advisors, a firm established in 1990 with six partners and 50 staff.
"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," AZ NGA chief executive Paul 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."
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He said the acquisition reinforces AZ NGA's commitment to building a large, integrated, multi-disciplinary financial services business.
"There are also mutually-beneficial opportunities for Matthews Steer to leverage the scale, resources and capabilities of the broader AZ NGA network," Barrett added.
Matthews Steer co-founder and managing director Ken Matthews said: "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."
"Their investment in Matthews Steer will provide greater capacity to continue to support our clients and extend our services to other entrepreneurs & 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."
Since 2015, AZ NGA has acquired over 65 small-to-medium enterprises, initially concentrating on New South Wales and Queensland but now the company has plans to expand in Victoria.
"We are constantly on the lookout for high quality SMEs that can expand the capability and capacity of AZ NGA, and we are keen to expand our footprint in Melbourne," Barrett said.
"Our mission is to partner with entrepreneurs who are committed to growing their business, returning value to all stakeholders including clients and staff, and creating a legacy for the next generation."