CALGARY, AB, Jan. 4, 2019 – AEC Property Tax Inc. (“AEC”), a privately-owned Canadian property tax consulting firm, announced today the acquisition Capital Assessment Services Inc. (“CAS”), a Calgary-based corporation specializing in assessment and tax management for energy industry assets. AEC will acquire the CAS people and customer contracts, and the merged business will operate under the AEC brand.
The completion of the business combination is an important step in the execution of AEC’s strategic plans for continued growth and establishment in the Canadian energy sector’s property tax landscape.
“Capital Assessment was founded in 1999, so this acquisition will contribute another longstanding and well-recognized consulting business to complement the AEC’s existing service offering,” said Gary Newell, CEO of AEC Property Tax. “Sean is a proven professional in the Oil and Gas assessment industry and his team’s expertise will be a significant addition to AEC’s existing bench strength. This merger helps to diversify our customer base, offering further exposure to complimentary industrial opportunities.”
Sean Shore, President of Capital Assessment Services Inc. added, “I’m looking forward to integrating our teams to take full advantage of the opportunities our cooperation has to offer. We’re excited to be aligned with a forward-thinking company like AEC and take advantage of their investment in tax management technology.”
Founded in 1973, the AEC Group of Companies is a well-established firm in the Canadian property tax landscape, comprised of four privately-held companies: AEC Property Tax Inc. is the national company serving clients coast-to-coast on assessment, expert witness, tax recharge allocations, energy linear and surface assessments, and tax bill payment and administration. AEC Paralegal Professional Corporation is the Ontario-based company under which professional paralegals carry out client-representing advocacy activities, as required by the Law Society of Upper Canada. AEC SYMMAF is the Quebec-based company born out of the 2013 acquisition of 35-year strong SYMMAF Inc. Finally, AEC Valuation Advisory Inc. was founded in 2017 to provide efficient and quality appraisals coast-to-coast for the Canadian industry.
Since 1999, the team at Capital Assessment Services has been providing property tax consulting services to the energy industry for properties in Western Canada. Experts in regulatory compliance reporting, assessment & tax audits, and appeal management, CAS audits over $5 billion dollars of assessment inventory annually, saving millions of dollars for their clients in the pursuit of equity.