BMT Tax Depreciation, Australia's leading provider of tax depreciation schedules, says that clients can continue to expect the highest deductions and an enhanced customer experience following the BMT Executive Team's recent acquisition of the business.
The business last transacted in 2015 at a value of $65 million when founding partners exited, offloading their combined 78 percent share. At that time the majority was snapped up by private equity firms who took a 66% stake. The 2015 transaction also saw Chief Executive Officer Bradley Beer increase his share and bring in two other members of the executive team, Nol Petrohelos and Leanne Goodchild, as shareholders.
The current acquisition which settled in August 2022 has seen private equity exit and the three members of BMT's executive team acquire 100% of the business.
The current executive team have each been with the business for 20 plus years and bring a wealth of experience having been involved in navigating BMT through some very challenging times. This includes the global financial crisis in 2008, sweeping property depreciation legislation changes in 2017 and the recent pandemic.
BMT CEO, Bradley Beer, said that successfully guiding business through both substantial growth and challenging times is what makes the company what it is today.
"Our executive team and staff are loyal, resilient and hardworking, we never shy away from a challenge", said Bradley Beer.
Mr Beer explained that the acquisition will give the company's long-standing executive team of three, full control to drive the future direction of the business.
"Our strategy focuses on customer service and thorough, accurate reporting, always with the aim to maximise claims and make life easy for our clients and corporate partners," said Bradley Beer.
Mr Beer said that innovation has always been important to the business.
"We will offer more tools, applications and support for accountants, the real estate industry and for property investors in general," he said.
Mr Beer noted that the continuing work with the Australian Institute of Quantity Surveyors (AIQS) to sharpen industry practices will also be a key area of focus.
"We want to ensure property owners get comprehensive and compliant depreciation service from AIQS members," said Bradley Beer.
"Referral fees paid to accountants or real estate professionals and depreciation schedules being completed without a thorough site inspection are examples of where our industry needs tightening up," he said.
"Now that we are on the other side of the pandemic and have full control of the business, we will continue to find customers the highest compliant deductions while delivering the outstanding customer service that we are known for," he concluded.
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