The strong pipeline of quality practices coming to market for sale continues...
This week we are delighted to be listing a long established, well run practice in regional Victoria with c. $1.5 million of fees that is looking for a partial equity sale. As with all our recent listings there will be strong demand so if this fits with your target acquisition profile, enquire now. Check out the details below.
We are also continuing to see great progress with existing clients. Three have settled this month, and in the last two week alone, we have seen three more clients execute Heads of Agreements with preferred buyers.
Last month we had the spotlight on Canberra and the ACT. This month it is a special call out to practice owners in Queensland who are thinking of selling. By way of a quick market update, we currently have two clients settling in Brisbane and the Gold Coast. Both are good quality practices that have sold for significantly more than $1 in $1 of fees. The Gold Coast practice ($900,000 in fees) only listed two months ago and had 54 interested buyers before the Vendor was able to quickly agree terms with a very strong cultural fit buyer. The Brisbane practice with fees of c. $1.25m had over 80 interested buyers. Buyer demand remains strong and interestingly we are seeing an increasing number of interstate buyers looking to purchase in Queensland as well as local firms looking to expand. So if you are thinking of selling, reach out for a conversation!
In closing a big shout out to practice owners in NSW. Doing it tough in lockdown, juggling existing client commitments AND now having to quickly get on top of the evolving NSW COVID Grant program. Not an easy time, and our thoughts are with you.
As always, feel free to reach out to email@example.com or firstname.lastname@example.org for a confidential discussion about the state of the market and what it may mean for you individually.
We'd also love to connect with you on LinkedIn. You can follow DMY here DMY LinkedIn.
Daniel and Mark