Deals & Departures

Around midday yesterday the majority of the partners of PPB Advisory decided that staying single was a less attractive proposition than an arranged marriage with a professional services behemoth. As a consequence, 28 of the equity holders in the PPB Advisory Unit Trust duly voted to merge with PwC, ending PPBA’s 35 year history as an independent insolvency and restructuring practice. According to a source…

As SiN revealed exclusively last month, a PwC takeover of PPB Advisory (PPBA) is well progressed but the latest mail is that there’s tension aplenty among PPBA’s ranks thanks in part to the very limited number of partnerships on offer. While neither firm would confirm it yesterday, well informed sources advise there are as few as half a dozen partnerships being offered in the deal,…

Deloitte’s Canberra office has undergone a modest restructuring of its own following the departure of partner and well known local identity Eddie Senatore. According to his Linked In profile, Senatore set up Eddie Senatore Advisory earlier this month and while the man himself could not be tracked down to discuss the reasons behind his exit, Deloitte confirmed the loss of Senatore hadn’t dented its determination…

PwC’s takeover of PPB Advisory/Litmus is scheduled to be completed by July 1, 2018 according to sources close to the deal who said a non-binding agreement is in place and due diligence underway. SiN understands that the big four accounting firm is keen to get its hands on the Litmus management consulting business and will take PPB’s traditional corporate restructuring and insolvency division with the…

Maybe the 2016 merger with Litmus was just the beginning for PPB Advisory (PPBA) with SiN’s M&A network revealing that the national consulting, restructuring and insolvency practice founded by Max Prentice, Steve Parbery, and Vince Barilla in 1983 is discussing a merger with PwC. The merger talks – confirmed by well-placed sources – were said to be well advanced but neither firm would confirm or deny the reports when contacted late…