Accounting firm Hall Chadwick has become a prime merger candidate after insolvency partners Kim Strickland and Chris Williamson left with their staff to set up a new practice under the name SimsPartners.
Their departure leaves Hall Chadwick with just two audit partners, Michael Hillgrove and Maurice Anghie, and about 25 staff.
The loss of the insolvency practice is the latest of several changes to have shrunk the size of Hall Chadwick’s Perth practice.
It follows the separation of its tax and business services practice last year, and the unraveling of its short-lived 2002 merger with MGI Brandsma Crockett, now trading as MGI Bridge Partners.
The merged firm had 14 partners and 109 full-time staff, making it the eighth largest accounting firm in Western Australia at the time, according to WA Business News’ Book of Lists.
In its current form Hall Chadwick’s main asset is a well-established audit practice, which comprises about 150 clients, including more than 20 listed Western Australian companies.
Mr Hillgrove said a merger was one option being considered.
“We feel we are a solid WA practice with a good reputation and a solid client base,” he said. “That presents an opportunity for us or anyone else we join.”
Mr Hillgrove said while the Hall Chadwick brand name had “a great deal of worth” he would consider rebranding the practice in the event of a merger.
Mr Strickland said SimsPartners was a specialist insolvency firm with 17 partners and 108 staff.
Nationally it ranks below Ferrier Hodgson and McGrathNicol + Partners but on a par with PPB and KordaMentha.
The opening of the Perth office fills a gap in its national coverage.
It formerly had an affiliation with Perth firm Norgard Clohessy, but that ended last year when Norgard changed its name and became part of the national Pitcher Partners group.
Mr Strickland believes a specialist insolvency firm is a more efficient structure.
“We can be more focused and will have more time to provide a better service,” he said.
