Deloitte expands infrastructure advisory capabilities with PDS Group
Professional services firm Deloitte has picked up public and private infrastructure advisory PDS Group, creating end-to-end project management capabilities in the construction sector.
Australia’s infrastructure boom has seen professional services firm Deloitte snap up Melbourne-based national specialist PDS Group, bolstering its project and development management capabilities in the construction sector. PDS Group has a headcount of around 70, with managing director and co-founder Andrew Fortey to continue to oversee the business.
“This move offers an opportunity to expand and grow our established networks further into upstream and early engagements with government and large multinational clients, and will provide our people with significant career advancement opportunities through accelerated growth supported by the leveraging of Deloitte’s significant regional and global network,” Fortey said of the deal.
Established almost two decades ago in 2003, the Melbourne-headquartred advisory has supported more than 600 public and private sector projects since its inception, serving clients across a range of construction segments – from commercial, industrial and residential to public infrastructure – with integrated project advisory and management and development management solutions.
“Deloitte has strong capability across a range of public infrastructure and real estate advisory areas,” said Adam Powick, commenting on the second deal completed under his six-week watch as Deloitte CEO. “This partnership with the PDS team will complement and enhance our existing market offerings to cover the complete infrastructure development value chain.”
Powick spoke of a significant demand for advisory and project management services at present, with a bold infrastructure agenda a key plank in the government’s post Covid-19 economic recovery plans. Some $120 billion worth of infrastructure projects are in the pipeline over the next ten years – with the big consulting firms already reaping the benefits of the burgeoning sector.
While the terms of the deal – set to formally close at the beginning of September – remain confidential, the Australian Financial Review reports that PDS Group is believed to have pulled in $16 million revenue last financial year. The outfit will continue to operate out of its existing seven offices across the nation, with Fortey to join as a partner in Deloitte’s Financial Advisory division.
Commenting on PDS’s “exceptional reputation in built environment project solutions,” Deloitte’s Financial Advisory managing partner David McCarthy concluded; “By joining forces with PDS Group we will realise a long held ambition to deliver our clients end-to-end capability in this space, from strategy and planning, to funding and procurement, and, now, first-class project delivery.”
In related news, last month rival KPMG bundled its existing infrastructure expertise into a new, 450-strong practice branded as Infrastructure, Assets & Places. Meanwhile, the Integrated Infrastructure practice of PwC hit the 50-partner milestone in June.
