“When meeting with RSM there was that instant moment and connection that the relationship will work as they were genuinely interested in our business model and also what we do and why we do it"
Mark Murphy, Director of Practice, Fender Katsalidis Architects
Fender Katsalidis Architects case study
Founded on the philosophy of innovation through collaboration, Fender Katsalidis Architects (FKA) is a multi-disciplinary design firm which has been operating for 25 years across multi-residential, cultural, commercial, aged care and hospitality.
One of their flagship projects, the Eureka Tower, was the tallest residential building in the Southern Hemisphere when completed.
FKA has experienced significant growth in recent years and was at a stage in the business lifecycle where they had outgrown their professional advisors. FKA no longer needed just accountants, but rather business advisors to engage in assisting them with succession planning and business transitional matters.
“We’ve got a lot of experience, but now we need to make sure that the experience is shared”.
“When meeting with RSM there was that instant moment and connection that the relationship will work as they were genuinely interested in our business model and also what we do and why we do it” Mark Murphy, Director of Practice at FKA, said.
FKA engaged RSM with the need to continue to expand the business and broaden its ownership within its own ranks by creating a foundation for the company to be sustained into the future.
What RSM can offer
To be able to introduce new shareholders into the business, FKA needed to assess the restructuring options available to facilitate the shift. RSM provided business, taxation and accounting advice that enabled this to happen effortlessly. “The consolidation of staff into one clear floorplate is a key part of the succession planning and will build up the sense of the practice as a team” added Mark.
When planning for a succession strategy, all aspects of the business need to be reviewed to ensure a clear plan is created, and to avoid any confusion when the time comes for this transition. RSM reviewed the working capital requirements and cash flow models of FKA and provided recommendations to management of the key issues that required consideration to comply with financial and tax regulations.
With a clear strategy, FKA now considers RSM a strategic business partner with whom key decisions are made. As a result, they are looking to expand further both nationally and internationally, taking the firm to the next major base and having these locations solid in their own right.