EY to buy Montreal accounting and consulting firm Nexia Friedman

18 September 2018 Consulting.ca

Professional services firm EY has announced its intention to acquire Nexia Friedman, a Montreal-based boutique accounting and consulting firm serving private company clients. The firm will be rolled into EY’s Private Client Services practice in Montreal.

Founded in 1960 and based in Montreal, Nexia Friedman LLP provides audit, tax, and business advisory solutions primarily to high net worth individuals, families, and private businesses. Its management consulting services include M&A, turnaround, HR, fraud investigation, and litigation support.

The firm has announced that it will be joining Big Four professional services firm EY. Nexia Friedman’s 80+ tax and consulting professionals are expected to join EY’s Private Client Services practice in Montreal, which offers personal, compliance, and business tax planning to individuals, family businesses, and private company owners. The practice also offers other services like estate planning, wealth transfers, and philanthropic planning. The deal is expected to create one of the largest dedicated private company practices in Quebec.EY buys Montreal accounting and consulting firm Nexia FriedmanThe transaction, expected to close at the end of the month, combines Nexia Friedman’s private company boutique capabilities with EY’s comprehensive private client services and platforms. "To thrive in today's reality and tomorrow's market, businesses are evolving and ours is no exception,” said EY Montreal Managing Partner Marie Hubert. “Combining EY and Nexia Friedman's talent, approach, and experience empowers us to change the way we serve existing and future private company clients right here in Québec."

The acquired firm shares EY’s dedication to helping clients tackle the fast-paced changes affecting individuals and businesses, from automation to geopolitical shifts. "The challenges facing private companies and entrepreneurs are more complex than ever, and they need more from their business advisors,” added Hubert.

By joining EY, Nexia Friedman will look to tap into the multinational firm’s deep technological capabilities and global network of talent. "We're so proud to be joining forces with a firm that embraces innovation and digital to better serve evolving client needs,” said Nexia Friedman Managing Partner Jonathan Bicher. “Together, we'll offer clients our signature approach to personalized service, bolstered by access to a bigger, bolder service platform than ever before.”

Related: EY launches robotics Global Centre of Excellence in Halifax


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Syntax closes FIT deal, welcomes Quebec Minister of Economy and Innovation

19 March 2019 Consulting.ca

IT consulting and services firm Syntax Systems recently welcomed Pierre Fitzgibbon, Quebec Minister of Economy and Innovation, to its Montreal headquarters. At a joint press conference, the firm announced the completion of its acquisition of Germany-based SAP cloud specialist Freudenberg IT (FIT).

In January, Syntax – a portfolio company of Montreal-based private equity firm Novacap – announced a double acquisition of cloud ERP consulting firms EmeraldCube Solutions and FIT. EmeraldCube’s specialization lies in Oracle’s JD Edwards software, as well as Amazon Web Services, while FIT is a leading SAP partner. Novacap provided equity financing for the deals.

The acquisition of FIT augmented Syntax’s core offering in Oracle strategy and implementation with SAP software expertise, while extending the firm’s footprint into Europe, Latin America, and Asia-Pacific, as well as adding 850 employees. The EmeraldCube deal boosted the firm’s capabilities and presence in the US, adding to Syntax’s offices in New York City and Somerset, New Jersey.

Syntax closes FIT deal, welcomes Quebec Minister of Economy and Innovation

At a joint press conference attended by Quebec’s Minister of Economy and Innovation, Syntax announced the strategic acquisition is now official, after a six-week period of customary approvals.

"I am very proud of what our company has become. Thanks to these deals, Syntax can deploy its expertise in many new markets, such as Asia, Europe and Latin America, as well as reinforce its North American presence. Syntax will keep its head office in Quebec and wants to inspire other companies to conquer international markets. We look to the future with great confidence, because FIT and EmeraldCube Solutions share our values of customer success and excellence. We are now a major player in the industry," Christian Primeau, CEO of Syntax, said.

The FIT acquisition gives Syntax offices  in Germany, the US, China, Hungary, Slovakia, and Mexico. It also adds a strong client base in the automotive and manufacturing sectors, as well as a deep partner relationship with German ERP giant SAP.

“Quebec and its metropolis are locations that favour the development of information and communications technology as well as companies that are active in this cutting-edge sector. Syntax is demonstrating this by acquiring two international companies and continuing its growth," Minister Pierre Fitzgibbon said at the press conference. 

“This is a great example of a Quebec company that is distinguishing itself internationally and promoting our expertise throughout the world. I am delighted by this announcement, for Syntax and for Quebec as a whole," he added.