Sometimes, one decision can make or break your path to profit. For Paige Kohalmont, that decision was a big one – whether or not to acquire Austral Herbs, one of the biggest names in the Australian herbs and spices industry.
For searchers like Paige, due diligence is paramount. In this case study, we explore how SBO’s thorough investigative prowess played a huge role in Paige’s path to acquiring the business with confidence.
Austral Herbs, an Australian-based online supplier of organic herbs, spices, and teas, has been serving both retail and wholesale customers for over 25 years. With a comprehensive selection covering everything from culinary essentials to harder-to-find ingredients, Austral Herbs has established itself as a prominent figure in the organic food industry.
In 2023, the company’s legacy got a new steward, with Paige Kohalmont taking the reins as CEO to steer the company towards its next phase of growth.
Starting from the ground up
As an entrepreneur-led searcher, Paige was acutely aware of the role that due diligence would play in the acquisition of Austral Herbs.
“At the start of my investigative journey with Austral Herbs, I engaged SBO’s due diligence business, Assurety,” she says. “They carried out a comprehensive financial analysis and a forensic review of accounts.”
Through this rigorous process, Paige was able to gather crucial insights that provided the confidence she needed to proceed with the acquisition.
“I was really impressed by the services offered by SBO,” she says. So impressed, in fact, that when it came time to find a partner for Austral Herbs’ financial management and accounting services in the operational phase, there was no question as to who Paige would choose.
“I never considered other options as I was convinced SBO was the right fit for us, having developed a strong working relationship and acquired essential knowledge during the due diligence phase.”
A winning ingredient
For Paige, a successful business is about more than numbers on paper. She expresses her appreciation for SBO’s collaborative approach, high level of care, and demonstrated capability, noting that the pivotal factor influencing her decision to partner with SBO was their exceptional team.
“Their knowledge, diverse skill sets, experience, attention to detail and organised responses are secondary to their ability and willingness to help when I have a question or a problem, or when I need financial advice,” she says.
She also acknowledges SBO’s proactive approach to problem-solving and identifying opportunities.
“This has really helped take the weight off my shoulders for things like tax advice and recommendations,” she says.
The ongoing support, reporting tools, meetings, and guidance provided by SBO enabled Paige to make informed, strategic business decisions for the company
“I was able to trust that my bookkeeping, financial reporting, and finance & tax advice were in good hands,” she said. “They have significantly contributed to the efficient attainment of our business goals.”
With SBO on hand, Paige was on track to guide Austral Herbs towards achieving their financial goals quicker.
For Paige, the most significant benefit has been the peace of mind, “knowing that our financial controls are in capable hands.”
Paige says SBO is an excellent solution for businesses seeking outsourced financial services beyond mere administrative tasks.
“They provide comprehensive services, including bookkeeping, tax, and financial management, while caring deeply about their clients’ success,” she says.
“And they always go the extra mile to secure it.”