The acquisition of Net Balance is expected to be completed by late September 2014.
EY Asia-Pacific climate change and sustainability leader Mathew Nelson said the acquisition will see EY become one of Australia’s leading advisers in the areas of sustainability strategy, reporting and assurance, social impact, carbon, energy, health, safety and environment.
“The combined technical and strategic capability of Net Balance and EY teams will provide clients with unique expertise to help them meet their sustainability challenges.”
“This acquisition will further strengthen EY’s ability to service our clients across all areas of sustainability and climate change, particularly social, supply chain, energy and sustainability advisory services,” Mr Nelson said.
The deal will see Net Balance’s existing staff, including founder and director Terence Jeyaretnam, join EY.
“The combined EY and Net Balance team will clearly be the largest sustainability service provider in Australia with deep technical expertise and experience,” said Mr Jeyaretnam.
"Joining our colleagues at EY is very exciting as it will present both our clients and our staff with significant opportunities especially as we look to expand into new markets and broaden the range of services, projects and initiatives we can offer,” Mr Jeyaretnam said.