MUMBAI: KPMG, one of the big four consultancies globally, has acquired the Indian arm of Spanish boutique advisory firm AF-Mercados for an undisclosed sum.
The acquisition is aimed at entering the consultancy vertical in the energy sector and comes at a time when the big four — KPMG, EY, Deloitte and PwC — are betting big on India, expecting huge growth in the next decade. “KPMG acquired substantial business capabilities in the energy sector through the acquisition of the entire 25-member team of AF-Mercados,” a KPMG executive said. “The firm has an expertise in unique skills in data sciences, forecasting, pricing and optimisation in the energy sector.”
The acquisition is structured in a way that the brand — Mercados — would continue to be the Spanish firm, while KPMG would acquire its India capabilities. In other words, KPMG would have the right over all the ongoing contracts of the company in India and some of the solutions that Mercados offers.
This is besides the 25-member team, which mainly includes Phds, that has come on the board of KPMG India. Untill now, no other manor consultancy has any presence in the services that Mercados offers in the country. Industry trackers say that the India team of Mercados offered some predictive solutions to one of the biggest players in the Indian power sector on how much electricity they would need in the coming year. Some of the biggest clients in the oil and petroleum sector in India as well as in West Asia are clients of Mercados.
Mercados is present in India since 2004 and mainly offers services like market analysis, forecasting, investment evaluation and asset development, market design, and power market modeling.