Ernst & Young (EY) Canada has acquired AFARA, a sustainability consulting firm with expertise in environmental, social and governance (ESG) services. Financial terms of the deal were not disclosed.
This is technology M&A deal number 793 that ChannelE2E has covered so far in 2022. See more than 2,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
EY Acquires ESG Consultancy AFARA
Ernst & Young, founded in 1989, is headquartered in London, England. The company has 355,764 employees listed on LinkedIn. EY’s areas of expertise include advisory, assurance, tax, transactions, audit, mergers, M&A, financial services, accounting, professional services, law, technology, consulting, data, transformation, strategy, legal, digital transformation, legal, growth and managed services.
AFARA, founded in 2014, is based in Calgary, Alberta, Canada. The company has 14 employees listed on LinkedIn. AFARA's areas of expertise include sustainability and ESG services and solutions.
AFARA will be tucked into the EY-Parthenon practice and expand the firms' ESG services for a wider customer base, the companies said.
Kent Kaufield, chief sustainability officer and ESG markets leader at EY Canada, commented on the news:
“Businesses around the world are now embracing societal change and sustainable development as road maps to long-term success — and we are excited to play a role in that journey. At the end of the day, sustainability is everybody’s business. With AFARA, we look forward to helping clients build resilient, sustainable companies and economies, while furthering the energy transition.”
Dan Zilnik, president at AFARA, added:
“It’s incredible to be joining an organization so focused on culture, values and solving some of the world's most meaningful, complex problems."
Accenture also is acquiring sustainability consultancies. In April, Accenture acquired sustainability consultancy Greenfish and Avieco, a sustainability consultancy in the United Kingdom. In May 2022, Accenture acquired akzente, a German sustainability consultancy.
EY’s Continued Growth
Ernst & Young (EY) has been active in the M&A market, acquiring multiple MSP, MSSP and IT consulting firms worldwide. EY plans to continue its growth initiatives both organically and through continued acquisitions, the company has indicated. Key EY acquisitions have also involved application, cybersecurity and managed services expertise, as well as digital and customer experience expertise.
