M&A

KPMG has purchased a mid-tier firm’s WA practice, flagging it as the first in a series of acquisitions designed to build KPMG’s private enterprise business nationwide.

The acquisition of Hayes Knight WA has meant 10 staff will now join the big four firm, one as partner.

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Rob Bazzani, head of private at KPMG Australia, said the firm’s private enterprise focus reflects the increasing importance of the role private companies play in the Australian economy.

“Privately owned business is a significant and growing part of our national economy,” he said.

“Our business is focused on supporting the growth of private, family and entrepreneurial business, and to do this, we’re building scale to support a full-service offering in key geographies, including deepening our advisory capabilities.

“We bring the resources and insights of a top-tier firm, tailored and affordable for privately-owned businesses and the mid-market sector.”

Mr Bazzani said the acquisition highlights KPMG’s confidence in the private sector market and the importance it holds for the future of the WA and national economies.

Hayes Knight WA chief executive Bruce Sinclair will join KPMG as a partner.

“Bruce’s team and client base are a wonderful complement to our existing practice in Perth and in concert they will present a compelling offering in that market,” Mr Bazzani said.

Mr Sinclair, meanwhile, said he is excited by the opportunities that joining KPMG will present for his team and their clients.

“Our clients will certainly benefit from the broader range of expertise and resources available from KPMG, whilst also maintaining the same personal relationship they have with their current advisers," he said.

“We are also excited about the expanded opportunities that will be available to our team from this move. This will only enable us to deliver improved client outcomes."