Multiplier Holdings takes Greenhawk in second New Zealand deal
Cross-border consolidation in professional services is gathering pace across the Australasian market. Multiplier Holdings, the Singapore-based professional services acquirer, has purchased Greenhawk Chartered Accountants, a New…
Key takeaways
- Multiplier Holdings, a Singapore-based professional services acquirer, has purchased New Zealand's Greenhawk Chartered Accountants for undisclosed terms.
- Greenhawk, founded in 2015, has a team of 22 and more than a thousand clients, and its three partners Paul Struckman, Darrin Brown, and Alex Cull will continue to lead the practice with all staff remaining.
- This is Multiplier's second recent New Zealand deal, following its earlier-in-the-year acquisition of Oxygen Advisors.
- Multiplier is backed by venture capital groups Lightspeed Ventures and Ribbit Capital, and aims to scale Greenhawk's outsourced CFO, accounting, and tax compliance services.
- Simpson Grierson acted as legal counsel to Multiplier, with corporate partner James Hawes calling the deal an important milestone in Multiplier's New Zealand growth.
Cross-border consolidation in professional services is gathering pace across the Australasian market. Multiplier Holdings, the Singapore-based professional services acquirer, has purchased Greenhawk Chartered Accountants, a New Zealand accounting and taxation advisory practice founded in 2015 with a team of 22 and more than a thousand clients. Financial terms of the deal were not disclosed.
Greenhawk serves commercial enterprises, not-for-profit organisations, and investors, with a specialist tax division for individuals with complex financial arrangements. In a LinkedIn post, the firm called the acquisition "the next chapter" in its development. The three company partners, Paul Struckman, Darrin Brown, and Alex Cull, will continue to lead the practice. All staff remain in place.
Scaling outsourced finance
The transaction gives Greenhawk access to Multiplier's technical systems, operational assets, and industry knowledge. The stated aim is to scale the practice's outsourced CFO, accounting, and tax compliance services, drawing on the group's broader operational platform.
This is Multiplier's second recent deal in New Zealand, following its acquisition of Oxygen Advisors earlier this year. Consecutive transactions in the same market point to a deliberate consolidation push in the country's professional services sector. Multiplier, which focuses on acquiring professional services firms globally, is backed by venture capital groups Lightspeed Ventures and Ribbit Capital.
Simpson Grierson, the commercial legal practice, served as legal counsel to Multiplier on the transaction. Corporate partner James Hawes described the acquisition as another important milestone in Multiplier's growth and its continued investment in the New Zealand market. He added that Greenhawk's client base creates an "exciting platform" for the firm's next phase.
On balance, the read-through for the sector is cross-border capital, VC-backed and actively deploying into fragmented professional services markets. How aggressively Multiplier continues to cycle into New Zealand will depend on deal flow and terms the company has yet to disclose.
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