Sydney-based advisory CAAA has expanded into Victoria through the addition of ALK Accountants and Advisors in Melbourne, with ALK director Elias Khoury to oversee the practice.
Currently servicing Sydney and its surrounds including Illawarra and into the Blue Mountains, CAAA said the move into Victoria was the first step in the firm’s strategy and $20 million investment to further extend its coverage across the country.
“We are thrilled to be working with Elias and the team as we branch out into Melbourne, another major city marking the start of our national expansion,” CAAA founder and CEO Fleming Stojanovski told AccountantsDaily.
Specifically targeting retiring or transitioning accountancy partners, the firm’s growth strategy – dubbed ‘CAAA Next’ – has seen the addition of several new businesses over the past few years, including Guillan Evans & Co, Trumans in Katoomba and Chatswood, and Greg Rodgers and Associates on the South Coast. ALK, however, marks the firm’s first interstate foray.
ALK Accountants and Advisors was established in 2017 by Elias Khoury to cater for a bespoke group for business clients focused on high service and tailored tax solutions.
Of its latest evolution, Khoury said: “This consolidation will enable us to offer our clients an extended range of services, leveraging CAAA’s extensive expertise in strategic advice, audit and assurance, business services and more. We are confident that this partnership will significantly enhance the value we provide to our clients and position us for continued growth and success.”
Rapid growth
Meanwhile, CAAA, a member of independent global alliance Inpact International, traces its heritage back to the 70s, emerging out of Pellarini Partners in 2006 after Stojanovski joined the suburban practice six years prior. The firm has since established outlets in Parramatta and Penrith, and added Asia Pacific-focussed wing CAAA Wong and Mayes in 2018.
Such growth sees the firm presently sit just outside of Australia’s top fifty largest of its kind, last year placing in 57th on the AFR’s annual rankings with revenues pushing toward the $20 million mark – a figure which has approximately doubled over the past six years. The firm is also now closing in on a headcount of 100 practitioners across its full-service offerings.
Speaking on the integration of ALK, Stojanovski concluded; “This aligns perfectly with our vision of providing holistic and premium accounting services to a broader client base. We are excited about the opportunities this collaboration will bring, in what is an outstanding start to our $20 million investment in Victoria.”
This article was originally published on consultancy.com.au