Australia

Details

  • Service: Private Enterprise
  • Industry: Energy & Natural Resources, Mining, Oil & Gas
  • Type: Press release
  • Date: 22/07/2014

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KPMG Australia announces acquisitions – Momentum Partners plus Karratha practice 

KPMG has entered into an agreement to acquire the business of boutique consultancy Momentum Partners, a strategy and operational improvement firm with a major presence in the mining industry. Upon completion, the firms' combined team will create the largest hub of mining professionals within KPMG's global network.

The deal sees Momentum Partners' founder and Managing Partner, Carl Adams, join KPMG as a Partner and Head of Mining (Australia) – and is expected to be effective from 1 August 2014. He will be based in Perth. Mr Adams takes on this role as another Perth Advisory Partner, Jonathan Smith, is appointed as the firm's new Head of Oil and Gas in Australia. The majority of Momentum Partners' 28 professionals across Perth, Adelaide, Brisbane, Sydney and Melbourne are expected to join and integrate with KPMG – including Sabina Shugg, named as one of "the 100 Global Inspirational Women in Mining".


KPMG today also announced the completion of its strategic acquisition of a Karratha accounting practice, formerly trading as Classic Slee Pty Ltd. To be led by the partner responsible for KPMG's Private Enterprise practice in Western Australia, Agnes Vacca, the Karratha practice provides on-the-ground remote location services to mining services, multinational oil and gas, and indigenous clients; as well as accounting and business services to high income earners and local businesses.

 

"These acquisitions continue KPMG's investment-led growth agenda. We are aiming to significantly grow our Advisory presence in the mining sector over the next 3 years, supporting growing demand as the industry adjusts to the changes in its operating environment," said Gary Wingrove, CEO of KPMG Australia.

 

"Carl and his team have built a mining consulting business that marries industry experience with a robust methodology which has proven resilient, and will integrate neatly with KPMG’s business model," he said.


The global mining industry has seen unprecedented growth, correlated to the industrialisation and urbanisation of China. Supply has responded and the industry is now transitioning from capital growth, to the challenges of operational excellence and working capital management.


"Australia's mining industry is adjusting to the changing global environment. Our main focus will be helping clients identify and realise sustainable productivity and efficiency improvements. Strategy and portfolio optimisation are also top of mind for most senior mining executives," said Carl Adams.

“Our clients are complementary to KPMG, as are our skill sets and experience. Momentum’s consulting experience in mining strategy and operations blends well with KPMG's productivity and innovation strengths. Our combined team will provide an enhanced range of services along the mining project life cycle," added Mr Adams.


Mid-term, Mr Adams considers the mining sector is moving towards a new growth phase.


"We have a positive outlook for the industry given our faith in mining leaders' ability to optimise their businesses as well as the potential for improving commodity prices. In this environment, we believe clients with new projects will be looking to set up their operations for best practice through sound operational design," said Mr Adams.

 

Over ten years, Momentum Partners' business has been serving a combination of large and middle market mining and mining services clients in all of Australia's major mining centres.

 

More recently, Momentum Partners has diversified to create a strong national presence serving clients in utilities, public sector, health and aged care, and transport, providing services including business and operational improvement, organisational effectiveness and operational readiness and strategy.


Commercial terms were not disclosed.

Media enquiries

Kristin Silva

Head of Communications

KPMG in Australia

+61 2 9335 8562, 0411 110 953

ksilva@kpmg.com.au

 

 

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Private Enterprise
Our Private Enterprise practice works with small to medium private and family businesses providing audit, tax, accounting and advisory services.