Press Release: Greenwoods & Freehills and Shaddick & Spence merge to create specialist tax firm powerhouse
In a move that will reverberate through the corporate tax industry in Australia, two of the country’s most highly awarded firms, Greenwoods & Freehills and Shaddick & Spence, will merge on 1 June 2008. The merger will create the largest specialist tax firm in Australia, with over 60 tax professionals.
In making the announcement today, Greenwoods & Freehills’ Managing Director Andrew Mills, and Shaddick & Spence’s Ken Spence, said the merged firm, which will continue under the Greenwoods & Freehills banner, will offer top tier corporate clients a quality and highly differentiated alternative to the ‘Big 4’ accounting firms, with a focus on M&A, cross-border, tax disputes and general corporate tax.
“This merger will sharpen competition in the local market for specialised corporate tax work. G&F will have a significantly increased capacity for client projects, and will offer a broader range of tax services at the same time as increased depth of experience,” said Andrew.
“It is a logical and exciting evolution for both firms, aligned with the longer-term positioning identified by both sides as vital to our ongoing growth and success,” he continued.
Ken cited the complementary nature of the two practices and highlighted the fact that the merger will bring together some of the most recognised corporate tax experts in the country. “The two firms fit together perfectly, with cultural, technical and operational synergies providing benefits to clients and staff alike,” he said.
“Greenwoods & Freehills is particularly strong in finance, property and infrastructure, whereas Shaddick & Spence has a predominance of resources and manufacturing clients. So our sector representation will expand with the merger, and we will be able to offer broader and deeper expertise to our existing clients, and a viable alternative to those for whom we have not worked previously,” Ken continued.
Both firms share a common philosophy of direct and active involvement in client assignments, with low staff leverage, for quality and efficient service, and the directors are committed to continuing that approach.
Shaddick & Spence will relocate from their offices in 101 Collins Street to Greenwoods & Freehills’ offices, also in 101 Collins Street.
For further information please contact:
Andrew Mills Mathew Jessep
02 9225 5966 / 0413 020 861 02 9225 5964 / 0458 354 944
Background information
(G&F) formed in 1985. It has a premier client list and has advised on many of Australia’s headline corporate transactions.G&F combines personnel qualified in both accounting and law to offer clients a balance between the interpretation and practical application of tax laws. It is an incorporated legal practice regulated by the Law Society of New South Wales and the Law Institute of Victoria, and is able to provide legally privileged advice. It is also a practice company under the auspices of the Institute of Chartered Accountants in Australia.
formed in 1993 and also advises many of Australia’s major listed companies and foreign owned groups, as well as some substantial private groups.Shaddick & Spence is also a chartered accounting practice under the auspices of the Institute of Chartered Accountants in Australia. The firm is a small practice of senior advisers, and has specialised exclusively in corporate and international income tax consulting to Australia's top one-hundred companies and Australian subsidiaries of foreign owned multinationals. The firm maintains a high profile with Government and tax regulatory authorities in order to represent the interests of clients in the debate on tax legislative and regulatory developments.