Multiplier buys Greenhawk in its tenth acquisition

Greenhawk Chartered Accountants has been acquired by Multiplier Holdings, becoming the New Zealand technology group's tenth acquisition.

Founded in 2015 by Paul Struckman, Greenhawk advises more than 1,000 clients from offices in Auckland and Wānaka. The firm specialises in accounting and advisory services for scaling businesses, investors and non-profits.

All 22 Greenhawk staff will join Multiplier. Struckman will continue to lead the Auckland operation, while Partners Darrin Brown and Alex Cull will remain in the Southern Lakes.

Multiplier is a Singapore-based technology company that works with finance, accounting, tax and advisory firms across Europe, Asia and Australasia. The group is led by Noah Pepper, a former Stripe executive who also worked at Twitter and Apple.

Multiplier said Greenhawk stood out for its client service and advisory work, with Pepper also citing the firm's client retention record as a factor in the deal.

Under Multiplier's ownership, Greenhawk will gain access to engineering teams in Silicon Valley and Singapore. The transaction also brings backing from capital linked to investors including Ribbit Capital and Lightspeed Ventures.

The client-facing team will remain in place, while support behind it expands. Greenhawk said that should reduce manual tax compliance work, speed up insights for clients and free up more staff time for technical work rather than administration.

Deal rationale

Struckman described the acquisition as a response to broader changes in the profession.

"Our industry is changing, and the firms that do best for clients in the next decade won't just have great people, they'll have great people backed by great technology. Multiplier doesn't bolt software onto how a firm already works, they embed with you and build tools around how you operate. That's what drew us in: the chance to give our clients faster answers, fewer manual processes, and more of our time spent on the advice that actually moves their business forward," said Paul Struckman, Founder, Greenhawk.

Brown said the firm had not been seeking a sale, but saw a strong fit with Multiplier's approach.

"We weren't looking for an exit, but in Multiplier we found a partner who wanted to accelerate our vision, not change it. Knowing our team is secure, and that our clients are about to get an even better service, made this an easy yes," said Darrin Brown, Partner, Greenhawk.

Client base

Greenhawk provides outsourced Chief Financial Officer services, bookkeeping and financial operations support, tax compliance and specialist tax advisory services. Its clients span construction, tourism, professional services, property development and the non-profit sector, and include individuals and investors with complex financial affairs.

The acquisition gives Multiplier a New Zealand presence alongside its existing operations across Europe, Asia and Australasia. It also continues a broader pattern of consolidation in professional services, as accounting firms increasingly seek external technology support and investment while keeping local advisory teams in place.

Pepper said Greenhawk matched the kind of firm Multiplier wants to back.

"Greenhawk is exactly the sort of business we love to invest in: A culture of premium service applied to complex advisory work. Honestly, their client retention tells you most of what you need to know about how much their clients value them. We are backing the team with technology so they can keep up with demand and take on more work for their clients," said Noah Pepper, Chief Executive Officer, Multiplier.