In late July, Boral announced it will take ownership of a
large quarry at Moy Pocket, a smaller quarry at Wondai and a concrete plant at
Gympie on a cash free, debt free basis of $81.5 million as soon as Australian
Competition and Consumer Commission (ACCC) approval is finalised.
To expedite the agreement, Mulraneys used a dedicated
project team to handle all aspects of the transaction. Working in collaboration
with Boral as well as using external consultants, it was involved in all phases of brokering the deal.
According to Erik Hipwood, Mulraneys? managing partner, the
deal will be of mutual benefit to Boral, Sunshine Coast Quarries and the
Sunshine Coast community.
?Our senior partners have worked hard to continue our
client-focused business approach in brokering this deal. We pride ourselves on
bucking the perception of accountants being all about tax and numbers.
?The Boral deal shows that accounting is more about creating
meaningful relationships and providing clients with quality solutions. We
continually challenge our clients to improve their business.?
Mulraneys will continue to be involved in the process by
assisting with the overall business accounting and reporting throughout the
ACCC approval period. It will also assist in the final handover of the business that includes managing the
collection of the outstanding debtors and the payment of creditors on the
completion date.
?The end result demonstrates that Mulraneys is a regional
accounting firm capable of driving a sizable deal,? Mr Hipwood said.