Accounting and advisory giant KPMG has bought the western Sydney-based Trace Chartered Accountants, as part of its continued push into mid-market work.
The deal, signed on Friday, will see Trace's Peter Tracey become a partner at KPMG and his 11-member team join the firm from Monday.
Trace, which was founded by Mr Tracey's father Brien more than 30 years ago, provides accounting and tax services to a range of small- to medium- enterprises and individuals from its base in Penrith in Greater Western Sydney.
KPMG already has an existing office at Paramatta and in Wollongong. Big four rivals Deloitte and PwC also have offices in Paramatta.
"Western Sydney is one of the fastest-growing regions in the country, and I'm confident this positive trend will continue, with significant infrastructure and associated investment expected through the development of Western Sydney Airport," KPMG chief executive Gary Wingrove said.
The deal is the 13th acquisition by KPMG in the past two years, with other purchases including social media consultancy SR7, human rights and social impact consultancy, Banarra and wellness outfit The Performance Clinic.
The firm has also appointed Michael Rose, the former chief executive partner of law firm Allens, to be a special adviser.
Mr Rose will assist in a range of areas including social responsibility and legal advisory, as well as mentor and coach selected partners and directors.
