Accounting firms taking ‘fire sale’ prices
One business broker has noted a growing trend of mature accounting businesses looking for quick sales and accepting sale prices well below their market value. Connect Financial Service Brokers chief executive Paul Tynan said he has never seen so many firms on the market at such short notice. He said retirement is the overwhelming reason for sales, often escalated by ill health. The industry is now seeing the consequences of broader failures to incorporate effective succession planning, Mr Tynan suggested.