NEW YORK, July 10, 2012 /PRNewswire/ -- Ernst & Young's U.S. Transaction Advisory Services (TAS) today announced the acquisition of Jeffrey A. Parker & Associates, Inc. (JPA), a leading financial advisory firm in the U.S. focused on infrastructure. The acquisition builds on Ernst & Young LLP's infrastructure advisory practice in the U.S. and expands the capabilities of the worldwide Ernst & Young network in this area.
JPA will deepen the Ernst & Young LLP U.S. talent pool in infrastructure advisory and enhance relationships in transportation infrastructure. Jeff Parker, the founder and President of JPA, will serve as Senior Managing Director of Ernst & Young Infrastructure Advisors, LLC, as JPA will be known going forward, and will lead key client engagements including advising New York State on the replacement of the Tappan Zee Bridge and the state of Georgia on the redevelopment of 120 acres of downtown Atlanta and a multimodal transportation complex. Mike Parker, a Managing Director of JPA, will lead Ernst & Young Infrastructure Advisors, LLC which the entire JPA team will be joining. He will also lead key client engagements including advising The Port Authority of New York & New Jersey on the Goethals Bridge Replacement Project.
"We are acquiring Jeffrey A. Parker & Associates, Inc. to meet market demand for infrastructure advisory as the financing and development of U.S. Infrastructure becomes critical to the U.S. economy and national competitiveness," says Rich Jeanneret, Ernst & Young Americas Vice Chair and head of Ernst & Young LLP's Transaction Advisory Services. "This acquisition is in line with our strategy to grow our infrastructure advisory business in the U.S. and Jeffrey A. Parker & Associates, Inc. will be an excellent addition to Ernst & Young's global strength in this space."
Since 1981, JPA has assisted numerous domestic governments and authorities in developing billions of dollars in infrastructure and has worked on a number of high profile projects in the U.S. JPA has over $15 billion in current and recent infrastructure projects under advisory, primarily in the transportation sector, complementing Ernst & Young LLP's market leading position in social infrastructure, real estate, renewables and transportation capabilities in the U.S. By joining the global Ernst & Young organization, JPA will benefit from its global presence in tax, assurance, advisory and transaction advisory services. JPA will have access to Ernst & Young professionals dedicated to project finance, infrastructure and public-private partnerships around the globe.
"The decision to join Ernst & Young LLP is a strategic fit for our team and is in line with our commitment to deliver world class service and counsel to our clients and develop our staff," says Jeff Parker, President of Jeffrey A. Parker & Associates, Inc. "Our clients are the core of everything we do and, as part of Ernst & Young, we will have even greater resources to help them realize complex programs, pioneer new solutions and implement much-needed infrastructure improvements."
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SOURCE Ernst & Young LLP