Navigating Success Together: Shermac’s Enduring Partnership with Thorntons
Headquartered in the heart of Western Australia’s Wheat Belt, you might be surprised to find Shermac – a family-owned business that manufactures specialised water carts and service vehicles for the mining and construction industries. Shermac’s client list is a who’s who of some of the largest companies in the world such as Alcoa, BHP, Rio Tinto, and Theiss.
Fuelling its journey of growth and prosperity is a steadfast partnership with Thorntons. In an exclusive interview, Shermac CFO, Mike Ray, sheds light on the evolution and impact of their collaboration.
A Relationship Forged in Trust
With over two decades of collaboration, Shermac’s bond with Thorntons transcends the traditional client-service provider dynamic. Mike reflects on the early days, noting that proximity played a significant role in their initial decision to choose Thorntons. “They serviced the area, and having them nearby meant regular face-to-face interactions, a crucial factor in building trust,” he explains. “We’ve been with Thorntons for over 20 years now,” Mike shared, “Initially, proximity played a role in our decision, but it’s evolved into a genuine partnership of mutual respect.”
At the helm of this partnership is Troy Anderson, a director at Thorntons who hails from the same region as Shermac. “Troy’s deep understanding of our industry and the local dynamics has been instrumental,” remarked Mike, adding “His personalised approach and commitment to our success have solidified our trust in Thorntons.”
Evolution Through Collaboration
As Shermac’s business evolved, so did their needs. Thorntons stepped up to the plate, offering tailored solutions beyond conventional accounting services. Mike highlights their pivotal role in enhancing financial reporting and management insights. “Five years ago, we had some gaps in our financial reporting. Thorntons helped bridge that gap with tailored solutions offering invaluable insights and monthly reviews,” he shares.
Beyond Compliance
Thorntons’ expertise extends far beyond traditional accounting services of compliance and lodgement. Mike underscores their role in providing strategic advice on organisational structure, tax efficiency, and asset management. “They’ve been our go-to for navigating complex tax and regulatory environments and optimising our tax position” he notes, adding “Their proactive approach and wealth of knowledge have been invaluable in driving our business forward.”
When asked about the tangible impact of Thorntons’ involvement, Mike emphasised the peace of mind and confidence it instils. “Their expertise extends beyond compliance; it’s about ensuring we’re on the right track for long-term success,” he affirmed, “Whether it’s maximising tax efficiency or exploring new growth opportunities, Thorntons has been a trusted partner every step of the way.”
Responsive, Reliable, and Results-driven
One of the hallmarks of Shermac’s partnership with Thorntons is their responsiveness and reliability. Mike commends their proactive approach and seamless teamwork. “They’re a cohesive unit, and communication is seamless. We receive prompt responses and holistic support, instilling confidence in our decision-making process,” he attests.
Shermac have recently implemented some changes to its executive structure. “Change is inevitable, and Thorntons has been instrumental in guiding us through transitions,” he shared. “Their unwavering support and expertise ensure continuity and stability amidst organisational changes.”
Shared Vision of Success
The story of Shermac’s journey with Thorntons is a testament to the power of strategic partnerships. Through trust, collaboration, and shared vision, they’ve navigated challenges and seized opportunities, driving Shermac to greater heights of success.
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Thorntons is an accounting and advisory practice to mid-size, family-owned businesses in Western Australia. We offer a fully integrated portfolio of financial, tax, succession, and estate planning services and have the experience to guide you through the complexity so that you can enjoy stability, peace of mind and certainty.
To discuss your individual business needs and find out if we might be a fit for you, please contact Thorntons at tp@thorntons.biz or call (08) 9421 1722.