EY Ireland acquires leading economic consultancy firm DKM
- Important milestone, as EY Ireland makes its first acquisition
- EY Ireland further expands Government, Infrastructure and Economic Advisory Services with acquisition of DKM Economic Consultants
- DKM will now be known as EY-DKM Economic Advisory
EY Ireland today announces the acquisition of DKM Economic Consultants, a milestone announcement as this is the firm’s first acquisition in Ireland. As one of Ireland’s longest-established and most renowned private economic research firms, the acquisition of DKM expands EY’s existing Government, Infrastructure and Economic Advisory Services in Ireland and is in line with EY’s global and Irish strategy to integrate the full range of economic advisory services throughout the firm, differentiating EY’s offering from that of its competitors. This expanded offering will help clients understand the current and future environments they operate in, thus allowing for vitally-important scenario planning.
Following this acquisition, the 15-strong EY-DKM Economic Advisory team led by partners Shane MacSweeney and Luke Charleton will offer enhanced expertise across a wide range of specialisms, including construction and property economics, project appraisal, transport, urban economics and market analysis. The team will integrate into the EY network as EY-DKM Economic Advisory, working alongside EY’s global community of more than 180 economic advisory professionals.
DKM Economic Consultants was founded in 1981. Led by Directors Annette Hughes and John Lawlor, the former DKM team has a wide range of expertise, across multiple sectors, including construction, infrastructure, health, transport, urban development and agriculture, to name but a few. The DKM team will relocate operations from Grand Canal Wharf to EY’s office this month. DKM’s existing clients include many of Ireland’s largest private and public sector companies, Government departments, local authorities and state agencies, and the EU Commission.
Mike McKerr, Country Managing Partner, EY Ireland commented: “We are delighted to welcome Annette, John and the Team to EY-DKM Economic Advisory. Our rationale for the acquisition is to build on recent investments we’ve made in our Government, Infrastructure and Economic Advisory offering. Coming together with DKM, we are extremely excited by the opportunity we now have to build truly unique solutions for our clients across our service offerings. Many of our Irish clients, domestic and international, are grappling with uncertainty from a variety of perspectives including social, political and technological. With more than 35 years of unparalleled experience in the Irish market, DKM offers our clients market-leading expertise to help them understand the future economic environment they will operate in, and to help them navigate the road ahead.”
Annette Hughes, Director at EY-DKM Economic Advisory added “Having been established in 1981, and after almost 12 years of running DKM Economic Consultants as an independent private economic consultancy with our chairman Brendan Dowling, John Lawlor and I are very excited about this new phase for DKM and our team. We were delighted when EY approached us and we believe that EY is the right brand and the perfect partnership for us, and will lead to further success in the future. We will continue to provide a broad-based economic consultancy service, and will continue to focus on the same areas and sectors as we did prior to being acquired by EY. We look forward to working with our existing and new clients as EY-DKM Economic Advisory, and to building an even stronger force together in the Irish consultancy market. Our combined experience and expertise in the area of infrastructure and public investment is a good example of the potential synergies that can be achieved by this acquisition, and leaves our joint teams well placed to provide a really unique offering in the Irish market. ”
“Our acquisition of DKM comes at a time when Ireland is at a critical economic cross-roads with Brexit, wider geo-politics and technological disruption. In order for Ireland to future-proof its economy and remain competitive, there is a significant and urgent need to increase infrastructure investment. The condition of roads, schools, telecommunications, availability of housing and other physical assets greatly influences the economy’s ability to function and grow, drive job creation and encourage inward investment. We’re looking forward to introducing the services of EY-DKM Economic Advisory to new and existing clients in the new year,” Shane MacSweeney, Head of Government, Infrastructure and Economic Advisory, EY Ireland, concluded.
With the former DKM team, EY now employs 2,096 people across the island of Ireland, which includes its recent intake of 253 graduates. Following the announcement of 270 jobs earlier this year, EY continues to seek the very best talent to work across Ireland’s top entrepreneurial businesses and multinationals in addition to public and private sector clients.