Ernst & Young Acquires Jeffery A. Parkers & Associates to Expand its Infrastructure Advisory Abilities in U.S.
In their bid to expand their abilities in the infrastructure advisory service area in the United States, Ernst & Young’s U.S. Transaction Advisory Services practice acquired Jeffrey A. Parker & Associates Inc on Tuesday 10th of July. Located in Philadelphia, Jeffery A. Parker& Associates is essentially a financial advisory organization that focuses primarily on infrastructure.
Jeff Parker, JPA’s president will be the senior managing director of Ernst & Young Infrastructure Advisors LLC. Parker will look into some of the important client engagements. He will also advice New York State on the replacement of the Tappan Zee Bridge. Parker will also provide suggestions to state of Georgia on the redevelopment of hundred and twenty acres of downtown Atlanta as well as a multimodal transportation complex.
Mike Parker who is also the managing director of JPA, will be leading Ernst & Young Infrastructure Advisors, LLC and the entire team at JPA will also join him. Parker will also offer advice on matters such as The Port Authority of New York & New Jersey on the Goethals Bridge Replacement Project.
Ernst& Young is yet to disclose the financial terms of the deal. The company attained third rank on Accounting Today’s 2012 list of the Top 100 Firms, with an annual revenue of $7.5 billion.
Ernst & Young’s strategy behind this acquisition is to grow its infrastructure advisory business in the United States. Sharing his thoughts on the acquisition, Rich Jeanneret, Vice Chariman, Ernst& Young America stated that they are acquiring Jeffrey A. Parker & Associates, Inc. to meet the demands of the market for infrastructure advisory since the financing and development of United States Infrastructure has become critical for the economy and national competitiveness of U.S.
JPA has assisted a number of domestic governments as well as authorities in making lots of money in infrastructure, since the year 1981. JPA has also worked on quite a few important projects in United States of America. JPA has more than $15 billion in current as well as recent infrastructure projects under advisory, especially in the transportation segment. JPA will be able to work with the professionals at Ernst& Young who are currently working on numerous projects on infrastructure, public-private partnerships and finance across the world.