KPMG have announced the closing of an agreement to acquire the business of advisory firm EquaTerra.

The transaction focuses on organic and inorganic opportunities in select high-demand market sectors. It is hoped that the agreement will provide clients with a full life-cycle of capabilities for companies seeking to reduce costs and improve effectiveness and efficiency.

“EquaTerra is an ideal fit for KPMG and we look forward to welcoming the EquaTerra team to the KPMG network family,” said Timothy P. Flynn, Chairman, KPMG International. “Through this acquisition, clients of KPMG member firms will benefit from the addition of a market-leading sourcing adviser to help them transform their organizations into more flexible enterprises in a way that meets today’s complex market demands.”

Mark Toon, former Chief Executive Officer of EquaTerra and current KPMG LLP principal, said that the deal adds value for clients of both organizations. “Joining a network with KPMG’s capabilities and global scope provides great opportunities for our employees and clients,” Toon said. “KPMG’s extensive sourcing experience, its Big Four market presence and its reputation for relentless execution is an ideal complement for EquaTerra’s business transformation capabilities and highly respected reputation in the shared services and sourcing advisory sector.”