EY acquires CEE-active denkstatt to boost ESG services

Denkstatt is now part of the EY network in Austria, Bulgaria, Romania, Hungary and Slovakia and will operate under the EY denkstatt brand, EY said in a press release. The financial terms of the deal were not disclosed.

The new brand will offer comprehensive solutions on environmental, social and governance (ESG) and sustainability issues.

The acquisition will enhance EY's services across ESG aspects such as audit, tax, legal, strategy and transactions. It will also expand the parent company's offerings in sustainability, including ESG reporting, business model transformation, sustainability strategy, regulatory expertise and green taxes.

"By joining a leading consulting company on sustainability issues, we are expanding our consulting portfolio and significantly upgrading our competence and capacity in the field of sustainability services," EY Bulgaria country managing partner and Southern Cluster leader Nikolay Garnev said.

Founded in Vienna in 1993, denkstatt has offices in Austria, Bulgaria, Romania, Hungary and Slovakia. The group entered the Bulgarian market in 2007.

EY has provided sustainability services for nearly 20 years, including strategy, tax, mergers and acquisitions, subsidies and implementation of regulations. All of these EY and denkstatt services will now be combined under EY Sustainability, the company said.