KPMG Advisory buys mining expert Momentum Partners
The Advisory practice of consulting firm KPMG has expanded its capabilities in mining with the acquisition of Momentum Partners, an Australian based counterpart with offices throughout the country.
Momentum Partners is a strategy and operational improvement firm that was founded in 2003 in Perth, Australia. The firm delivers practical management consulting services and has offices in Perth, Sydney, Brisbane, Adelaide and Melbourne. Momentum Partners specialises in the mining industry, and works for well-known clients such as BHP Billiton, Rio Tinto, Fortescue Metals Group, Northern Star Resources and Gindalbie Metals.
In line with KPMG’s growth agenda in Australia, the Big Four firm has decided to buy Momentum Partners. “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,” says Gary Wingrove, CEO of KPMG Australia.
As a result of the deal the majority of Momentum’s 28 professionals will join KPMG’s Australian team, creating the largest hub of mining professionals within KPMG’s global network. Momentum Partners’ founder and Managing Partner, Carl Adams, will join KPMG as partner and Head of Mining (Australia). “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,” says Carl Adams.
Second acquisition
The acquisition of Momentum Partners is KPMG’s second recent deal in the Australian market. It recently also bought Karratha, a professional services firm that provides accounting services to clients in the mining industry. Agnes Vacca, the partner responsible for KPMG's Private Enterprise practice in West Australia, has been given the lead of the Karratha practice.
