RSM Bird Cameron buys Stockford divisions

Perth-based accounting firm RSM Bird Cameron has expanded its interstate operations by merging with Stockford’s audit and tax divisions in Melbourne.

The merger will add 50 staff, including seven partners and two principals, to Bird Cameron’s existing Melbourne practice. National chairman Kim Hutchinson said the merger would double the size of RSM Bird Cameron’s Melbourne practice. It would lift the group’s national profile to 50 partners and 500 staff.

The Stockford divisions were formerly the audit and tax practices of HLB Mann Judd, which joined Stockford in 2000. Stockford was an Australian Stock Exchange listed company that acquired 42 accounting practices around the country.

It failed to achieve the anticipated efficiency and earnings targets and went into voluntary administration in February this year.

Mr Hutchinson said the Stockford partners had already negotiated an arrangement with the administrators, which allowed them to negotiate their own merger deal.

"In looking for a merger partner, the two Stockford divisions sought a professional environment for their clients where they could experience a high level of service, combined with national and international representation and a history of stability," Mr Hutchinson said.

He added that RSM Bird Cameron would benefit from the additional auditing and assurance services the two divisions would introduce to the firm.

The tax group would also add greater depth in the corporate tax area.

RSM Bird Cameron is a national partnership with 29 offices, including 18 in Western Australia.