Deloitte’s Canadian firm has signed an agreement to acquire Asset Performance Group, a consulting firm in Burlington, Ontario and Calgary, Alberta that specializes in making sure physical assets such as oil and gas equipment function reliably.
The transaction brings new reliability engineering and maintenance capabilities to Deloitte's Consulting practice, enabling the firm to deliver a range of asset reliability engineering, asset management and performance improvement services to industries across Canada, the U.S. and South America. The deal marks Deloitte Canada’s sixteenth M&A transaction in the past five years.
“Acquisitions such as this demonstrate Deloitte's commitment to providing integrated services that help our clients respond to the most significant challenges and opportunities facing their business,” said Jurgen Beier, leader of Deloitte Canada’s Consulting, Energy & Resources group, in a statement. “By adding leading asset reliability engineering and performance management services to our Operations Excellence practice, Deloitte will be better equipped to meet the operational needs of our energy and resources clients.”
Asset Performance Group helps companies in a variety of capital-intensive industries within energy and resources maintain and improve the performance of their physical assets, such as processing plants, by analyzing and quantifying their equipment performance and financial results. Demand for reliability services has grown in recent years, according to Deloitte.
“In capital-intensive industries such as oil and gas, equipment failure can have serious impacts on productivity, safety and the environment,” said Beier. “Proper asset care not only helps prevent incidents and downtime, it also improves asset utilization, reduces maintenance costs and strengthens environmental stewardship of natural resources.”
Deloitte’s Corporate Development Office plans further M&A deals and alliance initiatives to expand client services.
“The team from APG will continue to build on the foundation we’ve established as a market leader in asset reliability,” said Asset Performance Group principal Sherry Revesz. “By combining our expertise with Deloitte’s suite of operational excellence services, we will be able to offer clients a more comprehensive, end-to-end set of services.”
