BMT Tax Depreciation, the leading provider of tax depreciation schedules in Australia, assures its clients that they can anticipate even greater deductions and an improved customer experience following the recent acquisition of the business by the BMT Executive Team.
In 2015, the business underwent a transaction valued at $65 million when the founding partners departed, selling their combined 78 percent share. At that time, private equity firms acquired the majority stake of 66 percent. The transaction also resulted in Chief Executive Officer Bradley Beer increasing his share and bringing in two other members of the executive team, Nol Petrohelos and Leanne Goodchild, as shareholders.
The most recent acquisition, which was finalized in August 2022, involved the exit of the private equity firms and the complete acquisition of the business by the three members of BMT’s executive team.
The current executive team members have each dedicated more than 20 years to the business and possess a wealth of experience, having successfully navigated BMT through challenging periods, such as the global financial crisis in 2008, significant property depreciation legislation changes in 2017, and the recent pandemic.
Bradley Beer, BMT CEO, emphasizes that the ability to steer the business through both substantial growth and difficult times is what has shaped the company’s success. He states, “Our executive team and staff are loyal, resilient, and hardworking. We never shy away from a challenge.”
Beer explains that the acquisition grants the long-standing executive team full control to drive the future direction of the business. Their strategy revolves around customer service and providing accurate reporting to maximize claims and simplify processes for clients and corporate partners.
“We are committed to innovation,” Beer adds. “We will introduce more tools, applications, and support for accountants, the real estate industry, and property investors at large.”
Beer highlights the ongoing collaboration with the Australian Institute of Quantity Surveyors (AIQS) to enhance industry practices as another key focus area. He states, “We aim to ensure that property owners receive comprehensive and compliant depreciation services from AIQS members. This includes tightening up areas such as referral fees paid to accountants or real estate professionals and conducting thorough site inspections for completing depreciation schedules.”
“Now that we have emerged from the pandemic and have full control of the business, we will continue to secure the highest compliant deductions for our customers while delivering the outstanding customer service that we are renowned for,” concludes Beer.
