M&A: Accenture Acquires Energy Transition, Decarbonization Consultancy

Global IT consulting firm Accenture has acquired Partners in Performance, a global strategy consulting firm that has energy transition, decarbonization and sustainability expertise. Financial terms of the deal were not disclosed.

This is M&A deal number 203 that Sustainable Tech Partner has covered so far in 2024. See all M&A deals involving sustainability, climate tech and green IT services listed here.

Accenture Acquires Partners in Performance: Business Backgrounds

Partners in Performance, founded in 1996, is based in Melbourne, Australia -- though the company now has international reach and 400 employees. Target vertical markets include metals and mining; oil and gas; utilities; and chemicals, among others.

In addition to consulting services, Partners in Performance has proprietary data, benchmarks and advanced analytics tools. Major focus areas include capital projects, and assisting customers with energy transitions and decarbonization efforts.

Accenture, based in Dublin, Ireland, has roughly 733,000 employees. The company's focus spans IT consulting, managed IT services, sustainability services, and dozens of additional capabilities.

Partners in Performance will tuck into the Accenture Strategy business. 

Accenture: Sustainability Services and Acquisitions

Accenture has considerable experience acquiring IT consulting firms worldwide. Most of the acquisitions typically involve cybersecurity, managed services, data, AI and cloud services. But quite a few also involve sustainability, energy transitions, climate data, and green tech services.

Example acquisitions, investments and partnerships include:

• February 2024: Acquiring Insight Sourcing and Insight Energy -- an energy procurement and management business.
• October 2023: Partnering with Goodwill Industries International to launch the Goodwill Clean Tech Accelerator. Key training partners include GRID Alternatives, ChargerHelp! and BlocPower.
• October 2023: Investing in Open Cosmos, a move that einforced Accenture's growing focus on data-driven sustainability initiatives.
• September 2023: Partnering with Microsoft to develope a cloud-based application for energy companies that are seeking to manage methane gas emissions.
• May 2023: Acquiring sustainability consulting firm Green Domus Desenvolvimento Sustentável LTDA of Brazil.
• May 2023: Working with Cervest, an AI-powered climate intelligence (CI) platform, to assist end-customers with risk management.
• March 2023: Acquiring industrial artificial intelligence (AI) company Flutura of Bangalore, India.
• January 2023: Partnering with Planet Labs to leverage satellite imagery data for sustainability applications.

Accenture Acquires Energy Transition Consultancy: Executive Perspectives

In a prepared statement about the Partners in Performance deal, Accenture Strategy CEO Muqsit Ashraf said: “Delivering profitable growth with the backdrop of significantly higher levels of disruption caused by technology and macroeconomic factors requires leaders in the C-suite and beyond to have partners that help navigate this prevailing complexity and expanding uncertainty. The acquisition of Partners in Performance within Accenture Strategy will elevate our strategic advisory and execution capabilities, powered by data and AI, that help clients boost business and sustainability performance in existing operations and new capital programs.”

Added Stephanie Jamison, global resources industry practice lead and global sustainability services lead at Accenture: “Asset-intensive clients need to pursue strategies for decarbonization without compromising on business growth objectives. Partners in Performance’s expertise will be invaluable as we collaborate with clients to help them leverage digital capabilities and new ways of working to improve operational performance in areas such as supply chain, decarbonization and capital projects.”

Concluded Skipp Williamson, founder and managing director at Partners in Performance: “Our focus has been on helping organizations have big lasting impact. We are excited to combine our joint strengths with Accenture for our clients across the world and to bring them even better lasting impact.”

Accenture Financial Performance

For its Q2 of fiscal 2024:

• Accenture revenues were $15.8 billion, essentially flat compared to Q2 of fiscal 2023.
• Consulting revenues dropped 3% while managed services revenue grew 3%.
• Net income was $1.7 billion, up from $1.55 billion in Q2 of fiscal 2023.