CALGARY – Tax auditor and financial advisory firm Deloitte is expanding its expertise in the energy sector with the acquisition of AJM Petroleum Consultants, an engineering and geological consultancy based in Western Canada.
Financial terms of the deal were not disclosed, but Deloitte said Thursday that the combination will create a synergy of services in the increasingly competitive energy industry as the company introduces a fully integrated financial, technical, analytical and advisory service.
“Combining the skill sets of Deloitte and AJM makes us unique to clients looking for resource assessment expertise and financial acumen in the energy sector,” Frank Rochon, managing partner of Deloitte’s Calgary office, said in a release.
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“These integrated services are simply not available anywhere else in the market.”
AJM will have seamless access to robust technical data as well as fundamental market analysis that helps energy companies make informed decisions.
Frank Vettese, Canadian managing partner of Deloitte’s financial advisory practice, said the acquisition would act as “a catalyst for growth, supporting our national and global strategy to expand our advisory capabilities.”
“We are a global organization and AJM Deloitte will better position us to serve our clients in Canada, as well as those abroad,” Vettese said.
AJM Deloitte will operate out of Deloitte’s newly formed energy and resource advisory service in the Financial Advisory group.
Robin Mann, chairman and CEO of AJM said the combination would provide clients “efficiencies in cost, results and most notably, value.”
“Now, with one phone call, clients can access comprehensive professional advice on asset investments and divestments, mergers and acquisitions in Canada and internationally,” Mann said.
Deloitte, one of Canada’s leading professional services firms, provides audit, tax, consulting, and financial advisory services through more than 7,600 people in 57 offices.
Based in Calgary, AJM is one of the larger reservoir engineering and geological consultancies in North America with four service branches: corporate evaluations, acquisition/divestitures, reservoir studies/simulations and advisory services.
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