EY closes deal to create one of the largest SR&ED practices in Canada

SRED Automation joins firm today

TORONTO, July 5, 2013 /CNW/ - EY officially welcomed boutique firm SRED Automation into its family today, broadening the firm's entrepreneurial and western Canada footprints while simultaneously creating one of Canada's largest dedicated Scientific Research & Experimental Development (SR&ED) practices.

Bringing together EY's bold brand and global reach with SRED Automation's entrepreneurial spirit and reputation with private middle-market companies will raise the bar for exceptional client service delivery — enabling EY to deepen its focus on delivering the unique, holistic services that help private companies reach their growth goals.

"From start-ups to high-growth entrepreneurs, from family businesses to private mid-market companies, one thing is clear: EY is breaking new ground across this space," says Trent Henry, EY Chairman and CEO. "Today's deal empowers us to continue zeroing in on our clients' evolving needs, and support them on their respective journeys."

This transaction is EY's fourth in the last two years, including deals with Hergott Duval Stack LLP, which saw EY establish a new office in Saskatoon last year. In 2011, EY closed deals with RSM Richter (in Toronto and Calgary) and OME Group Consultants (in Toronto, Montreal and Calgary).

"Above all, we believe in the power of entrepreneurs," explained Evan Shoforost, EY Saskatoon Managing Partner. "This move grows the many ways in which we'll work with business owners on the SR&ED claim preparation and advisory services that allow them to do what they do best: drive growth, jobs and the economic future of this country."

That core philosophy is the foundation of this deal with SRED Automation, which shares EY's values and excitement around entrepreneurs and the middle market.

"We're very proud to be joining EY's practice of nearly 100 dedicated SR&ED professionals as we continue to help businesses access the specialized tax services that can fuel their growth over the long term," says new EY partner Jeff Pickett. "This is a very exciting time for us and for our clients, who'll continue to benefit from our special brand of service while also gaining access to EY's expansive Global network and resources."

About EY

EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

For more information, please visit ey.com/ca. Follow us on Twitter @EYCanada.

EY refers to the global organization and may refer to one or more of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.

About SRED Automation

SRED Automation is a professional services firm specializing in the Scientific Research and Experimental Development (SR&ED) program. We work with Canadian corporations to help them maximize their SR&ED returns.

The SR&ED program encourages Canadian businesses to conduct research and development (R&D) in Canada that will lead to new or improved products or processes. Claimants can apply for SR&ED investment tax credits to recover a substantial portion of the expenses related to their innovation. These expenses include wages, materials, contracts, equipment and overhead.

SOURCE: EY (Ernst & Young)

For further information:

For more information or to reach a spokesperson, please contact:

Sarah Shields
604 648 3607

Amanda Olliver
416 943 7121

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