KPMG acquires YCG Accountants adding 60 plus people to Parramatta Western Sydney ‘a key place to be doing business’, says KPMG as firm announces new acquisition and confirms region as ‘jobs powerhouse’ of Australia.
KPMG Australia announced today it has acquired Parramatta-based YCG Accountants, an accounting, audit and advisory firm with a significant presence in Western Sydney.
The deal will add more than 60 professionals, including 5 partners, to KPMG’s Enterprise business, which services the mid-market. YCG will join the existing Parramatta team immediately, increasing scale and expanding sector expertise into construction and hospitality in one of the fastest growing regions in the country.
"This is an exciting development for KPMG in an area we see as ‘a key place to be doing business’ in Australia,” said David Pring, Partner KPMG Enterprise, Western Sydney. “The addition of the YCG business further strengthens our ability to service key growth areas and sectors of Western Sydney. The acquisition provides scale, capacity to take on more work, and expansion into new sectors such as construction.”
YCG has been providing a full suite of accounting services in Western Sydney to private companies and family businesses for almost 35 years, and has been growing at around 20 percent per annum for the past 3 years.
Mr Pring reaffirmed KPMG’s Sydney growth strategy, servicing clients via a ‘three cities’ presence – Sydney CBD, Parramatta and Penrith. “From opening our doors in Parramatta in February 2015 with just 40 people, to opening a Penrith office in March this year, and now adding YCG at Parramatta, KPMG is on track to employ more than 250 people across Western Sydney by financial year end,” he said.
Mr Pring noted the region continued to be a growth engine for NSW, with NSW Infrastructure recommending acceleration of a number of Western Sydney projects, supporting strong employment and business opportunities.
Western Sydney is one of the fastest-growing regions in Australia, with significant infrastructure and associated investment expected through the development of Western Sydney Airport. The NSW Government is investing more than $1 billion in Westmead and there will be a further $2 billion invested into the project from the private sector. In addition, other key projects coming on stream include the NorthWest rail link, and North Connect which links the M1 and M2.
Naomi Mitchell, Director of YCG added: “These projects are not only significant for what they will deliver to the region, they are also significant for private business investment.”
“Becoming part of KPMG means we can continue to do more for our clients, offering them access to an increasing breadth of services and through us connecting them with a global network. Support in areas that we’d previously refer out because we didn’t have the particular expertise in-house can now be managed through KPMG’s experts.”
“Being part of KPMG provides our team with new business and career opportunities. We share a common vision to become the number one practice in the Western Sydney market, and are very excited about the path ahead together,” she said.
Recent analysis by KPMG Special Adviser, Bernard Salt, supports KPMG’s view of Western Sydney as a critical place for business growth:
“Western Sydney is a powerhouse of job growth and energy. It deserves recognition as a job creating piston that is helping to propel Australia forward by providing jobs and new opportunities for prosperity,” said Bernard Salt.
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