Stannards were looking for a capital partner to help accelerate the next chapter of their growth journey and consolidate their position as one of Australia’s leading boutique accounting firms.
THE PARTNERSHIP
Pemba Capital Partners (Pemba), an investor in high-growth, founder-led businesses has partnered with Stannards, a boutique accounting firm.
ABOUT STANNARDS
Stannards is a progressive Melbourne-based professional services firm offering accounting, taxation, audit and advisory services to mid-market and HNW clients across Australia. The firm has placed in the AFR’s top 50 accounting firms. Stannards has seen above market growth through the penetration
of core and emerging service lines (e.g. CFO advisory, M&A, family office services etc.). They have sector expertise including hospitality and food, medical, Not for Profit Organisations, retail and transport & logistics. Stannards have a team of 9 Partners and 75 employees.
BACKGROUND TO THE PARTNERSHIP
Pemba have been tracking the accounting sector for several years and have spoken to over a hundred firms, as well as industry experts in Australia and overseas. When we first approached Stannards, we were impressed by the growth-oriented mindset of the Partners, the high-performance culture and their trusted reputation and tenure with clients.
The Australian accounting market is highly fragmented (>36k firms), with the mid-market (firms with $5-100m revenue) growing at c.10-11% (OC&C). Pemba like the sector due to the mission-critical nature of the work, combined with the opportunity for ‘value add’ services. Pemba sees multiple growth avenues, including the use of new technologies and potential acquisitions and partnerships.
THE VENDORS’ PERSPECTIVE
THE FUTURE
Pemba will work closely with the Stannards team as they continue their exceptional organic growth. Together, we have identified a range of organic initiatives to deepen relationships with existing
clients and enhance service lines. Given the highly fragmented market, the partnership will also work collaboratively to assess potential acquisition opportunities. In a competitive environment for top talent, Pemba and Stannards are aligned in the continued need to enhance the employee value proposition create long-term rewarding opportunities for staff.
ABOUT PEMBA
Pemba has a strong track record in the professional services sector, including Rennie Advisory and ConnellGriffin. We have also invested around the accounting sector, including SuperConcepts
(SMSF administration) and Acis (company registration software), used by many of the nation’s accounting firms. Pemba is actively looking to partner with other high-quality opportunities in professional services. If you are considering external investment and would like to learn more about how a partnership with Pemba works, please email opportunities@pemba.com.au.
PEMBA CAPITAL HAS EXPERTISE IN THE FOLLOWING SECTORS
Business Services / Healthcare / Education & Training / Non-Bank Financial Services / Technology.
