EY to acquire Net Balance

Professional services organisation EY has moved to acquire sustainability consulting firm Net Balance. The acquisition is intended to be completed in late September, at which time Net Balance will be fully integrated with EY, including relocating staff to EY offices in Melbourne, Sydney and Brisbane.

EY Asia-Pacific Climate Change and Sustainability Leader Mathew Nelson said the addition of Net Balance, including the company’s founder and director Terence Jeyaretnam, to EY’s Assurance practice is an exciting development for the firm.

“This will see EY Australia’s national dedicated Climate Change and Sustainability Services team grow to more than 90 people and become Australia’s leading advisors in the areas of sustainability strategy, reporting and assurance, social impact, carbon, energy, health, safety and environment,” Nelson said.

“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.”

Jeyaretnam said Net Balance is looking forward to joining EY and creating “the largest sustainability service provider in Australia, with deep technical expertise and experience”.

“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,” he said.