E&Y, Orenda Merge to Create Mid-Market M&A Practice | AccountingWEB

E&Y, Orenda Merge to Create Mid-Market M&A Practice

Two of the country's top dealmakers are joining forces to create a dominant player in Canada's mid-market mergers and acquisitions marketplace. Ernst & Young Corporate Finance Inc. - the corporate finance arm of professional services firm Ernst & Young - and Orenda Corporate Finance Ltd., a leading investment banking firm, announced today that the merger creates Ernst & Young Orenda Corporate Finance Inc.

As one-time competitors, collectively the two firms completed an average of 40 transactions a year, with a total combined deal value of $7.3 billion over the past three years.

"This merger creates a firm with a very strong position in the transaction marketplace," says Ernst & Young's Denis Lemieux, who becomes president of Ernst & Young Orenda Corporate Finance Inc. "Both firms were already strong players but the resulting new organization offers a greatly enhanced depth of services-simply, we will dominate mid-market M&A work in Canada."

The three founding shareholders of Orenda, David Dunkin, Scott Fowler and Gilles Lamoureux were involved with the merger. Mr. Lamoureux says they all agree that the transaction is a great business fit. "Both sides of this deal share a common vision and a deep commitment to quality, teamwork and consultation. This will strengthen our market position and aim Ernst & Young Orenda's focus decidedly up-market," he says.

The new company will be part of Ernst & Young's network of more than 280 transaction professionals across the country, offering the full range of integrated transaction services.

All 14 of Orenda's investment bankers and three support staff will join Ernst & Young Orenda. Mr. Lamoureux and Mr. Fowler become vice chairs of the new entity, while Mr. Dunkin becomes a partner with Ernst & Young. Ernst & Young Orenda Corporate Finance Inc. is a member firm of Ernst & Young Global Limited.

Wait, there's more!
There's always more at AccountingWEB. We're an active community of financial professionals and journalists who strive to bring you valuable content every day. If you'd like, let us know your interests and we'll send you a few articles every week either in taxation, practice excellence, or just our most popular stories from that week. It's free to sign up and to be a part of our community.
Premium content is currently locked

Editor's Choice

As part of our continued effort to provide valuable resources and insight to our subscribers, we're conducting this brief survey to learn more about your personal experiences in the accounting profession. We will be giving away five $50 Amazon gift cards, and a $250 Amazon gift card to one lucky participant.
This is strictly for internal use and data will not be sold
or shared with any third parties.