Ernst & Young grows presence in Western Canada; Saskatchewan's Hergott Duval Stack LLP to join firm

Firm's third transaction in nine months will also fuel national Entrepreneurial Services practice

TORONTO, May 2, 2012 /CNW/ - Ernst & Young has signed a letter of intent that will see Hergott Duval Stack LLP - the largest independent accounting, tax and business advisory firm in the fast-growing province of Saskatchewan - join our firm. The transaction will cement Ernst & Young's presence in Western Canada and further the firm's Entrepreneurial Services reach from coast to coast.

"Hergott Duval Stack's reputation is unparalleled in Saskatchewan, particularly in the private mid-market space," says Trent Henry, Ernst & Young Chairman and CEO in Canada. "Over the last 30 years, they have redefined the meaning of exceptional client service. We're delighted to be joining forces to provide comprehensive service for businesses looking to succeed at the heart of one of Canada's busiest markets, and beyond."

This transaction comes on the heels of Ernst & Young's deal with RSM Richter in Toronto and Calgary last December, and its acquisition of OME Group Consultants in August 2011 - both of which underpinned the expansion of the firm's flourishing Entrepreneurial Services practice.

Given the breadth and depth of Hergott Duval Stack relationships across Saskatchewan's private mid-market space, Henry is particularly excited about how this deal boosts Ernst & Young's Western Canada operations and Entrepreneurial Services practice. "Like us, Hergott Duval Stack is committed to working with, supporting and celebrating entrepreneurs. Those common values empower us to up our game in Entrepreneurial Services, and offer private companies the innovative services they need to propel their businesses - and the Canadian economy - forward."

The commonalities between the firms' corporate cultures are the foundation on which Ernst & Young and Hergott Duval Stack plan to serve the Saskatchewan market today, and down the road.

"I'm proud to be part of an entrepreneurial firm that has been built through the hard work and creativity of our founders, partners and staff alongside our tremendous clients, who have allowed us to be part of their success," explains Evan Shoforost, Hergott Duval Stack LLP Managing Partner. "Teaming with Ernst & Young empowers us to continue offering existing and new clients the unique service they expect, with the weight of Ernst & Young's global network, skills and resources behind us. As the local economy continues to evolve quickly, this is a chance for us to build a bigger, bolder platform for the success of our clients both at home, and on the global stage."

The transaction is expected to close on June 1.  As part of the transaction, approximately 115 Hergott Duval Stack LLP personnel, including 12 partners and six associate partners, will join Ernst & Young in Saskatoon.

About Ernst & Young

Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 152,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.

For more information, please visit ey.com/ca.

Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.

About Hergott Duval Stack LLP

Hergott Duval Stack LLP is the largest independent accounting, audit and taxation firm in Saskatchewan. Our professionals are leaders and trusted advisors who provide their clients with individualized service and innovative solutions that are as unique as they are.

Our reputation for excellence has allowed us to recruit and retain the best of the best. Along with their enthusiasm for providing outstanding client service, the caring partners and employees of Hergott Duval Stack LLP willingly give their volunteer time and financial support to many worthwhile organizations throughout Western Canada.

For more information, please visit hergott.com.

For more information or to reach a spokesperson, please contact:

Amanda Olliver
416-943-7121
[email protected]