Following on from its funding into sustainability consultancy Rennie Companions, personal fairness agency Pemba Capital Companions has now backed boutique accounting and advisory agency Stannards.
After placing its religion into Rennie on the finish of final yr, Pemba has dipped again into the skilled companies market in a double strike, signing on each Stannards and venture administration consultancy Sequana in consecutive days.
Established in 1946 and based mostly out of Melbourne, Stannards gives specialised audit & assurance, accounting, taxation, and enterprise advisory companies to the personal mid-market and high-net-worth (HNW) purchasers throughout Australia.
Pemba stated it had been scouting the ‘extremely fragmented’ native accounting sector for a number of years earlier than reducing the deal, and in that point spoken to over 100 companies, however was notably impressed off the bat by the growth-oriented mindset of Staanards’ companions, the agency’s high-performance tradition, and its trusted popularity and tenure with purchasers.
Now, Pemba will work carefully with the Stannards management staff to additional the agency’s latest ‘above market development’, by each natural initiatives which have already been mutually recognized to reinforce its core and rising service traces and deepen relationships with current purchasers, and in collectively assessing any potential alternatives for acquisitions.
“Partnering with Pemba will permit us to speed up our development while offering incredible alternatives for our individuals and better companies to purchasers,” stated Stannards managing companion Peter Angelini. “Their values very a lot align with ours – constructing nice relationships, doing the suitable factor, and being business and impressive – which made our choice simple.”
Collectively together with his father and chairman Marino, Angelini is considered one of 9 companions on the agency, alongside those that joined upon its merger with fellow boutique TGS Companions in 2022 and a headcount of round 75 professionals. For the second consecutive yr, Stannards final yr snuck into the highest half of the AFR’s annual checklist of Australia’s 100 greatest accountancies by income.
Pemba describes itself as a number one investor in high-growth, founder-led companies, supporting and guiding them as they flip their strategic visions into realities and ship accelerated and sustainable success.
Its newest deal was suggested on by OC&C Technique Consultants, Alvarez & Marsal, and Ernst & Younger, because it continues to observe its earlier funding into Rennie flourish.
