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Hong Kong-headquartered advisory group Acclime has expanded its operations in Australia through the acquisition of Bedford, a long-standing Sydney-based accounting and business advisory firm that was founded in 1942.
Acclime says the acquisition will elevate the group to become one of the largest professional service firms in the country, leveraging Bedford’s national client base and building on Acclime’s existing operations in Sydney, Melbourne and Brisbane.
Acclime, which provides businesses with corporate, governance and advisory services, operates in 16 countries employing more than 1,600 staff. Its expanded operations in Australia account for about 200 of this total.
Bedford is the first Australian acquisition by Acclime since it bought Melbourne-based advisory firm The CFO Solution in 2023, although the company has been active in New Zealand more recently.
Acclime founder and chairman Martin Crawford says that the acquisition of Bedford presents a “key advancement” in Acclime’s expansion strategy.
“As we move into the ranks of Australia's larger accounting firms, and with further strategic additions on the horizon, Acclime is poised for continued growth in the region," he says.
The Bedford deal follows Acclime’s acquisition of Rockburgh Fund Services in New Zealand in February, establishing a new division for the group as an advisory for fund establishment, fund administration, fund turnaround and fund tax services.
Acclime says the addition of Bedford to its portfolio will enhance its ability to support businesses operating in or entering Australia, while giving Bedford clients access to Acclime's extensive capabilities for international expansion across the APAC region, the Middle East and the United States.
“This acquisition marks a significant milestone in our journey to strengthen our professional services capability in Australia,” says Izzy Silva, group CEO of Acclime.
“With Bedford's expertise and reputation, we are not only enhancing our accountancy and business advisory services but also family office and fund services capability, reinforcing our position as a trusted partner for businesses navigating both local and international markets."
Bedford serves a diverse clientele, including businesses, high-net-worth individuals and retirees, across Australia and abroad.
"Like Bedford, Acclime is a partner-led business, and the Bedford Partners will be continuing forward," says Bedford’s managing partner Murray Rose.
“This means our existing clients will have continuity of service and advice from the same principals and Bedford team members as they receive today.
“We are impressed by Acclime's like-minded focus on building a strong employee culture and great client service capabilities."
Following the acquisition, the Bedford business will report to Acclime’s Australasia regional managing director Randolph van der Burgh, while senior members of the Bedford team will join the Australasian management committee.
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