Royal Bank of Canada has beefed up its oil and gas sector expertise with the acquisition of substantially all of the assets of privately held advisory firm Rundle Energy Partners Ltd., the bank announced on Monday.

Calgary-based Rundle specializes in asset acquisitions and divestitures in the oil and gas sector. Terms of the transaction were not disclosed.

RBC said all Rundle employees have been offered and accepted positions with RBC, including the firm’s four principals – Tom Caldwell, Mark McMurray, Rich Wickens and Bevin Wirzba.

The acquisition further strengthens and expands RBC’s service platform and market position in the Canadian energy sector and complements its existing A&D capabilities in the U.S., which were established through the acquisition of Houston-based Richardson Barr & Co. in August 2008.

The new entity will be branded RBC Rundle and will work in close partnership with RBC’s global energy investment banking group as well as with the RBC Richardson Barr team in Houston. RBC Rundle will provide clients with a complete range of A&D, capital markets, financing and mergers and acquisitions advisory services.

“The transaction with Rundle further strengthens RBC’s leading energy practice and provides added value to our energy clients by offering specialized technical knowledge, unique asset evaluation capabilities, and proprietary ideas and insights in the A&D sector,” said Derek Neldner, managing director and head of Canadian Energy at RBC Capital Markets.

“This acquisition is a great cultural and strategic fit for RBC, providing us with an experienced, highly professional team of individuals who are client-focused and have established a strong reputation built on the quality and integrity of their service. Rundle and its team have established an outstanding client base and our goal is to build on this success,” added Neldner.

Mark McMurray, one of the four principals of Rundle, called RBC a “perfect partner” for Rundle.

“Clients increasingly want advisors who can provide capital markets expertise, bank financing, as well as access to a global platform, among other capabilities, and this transaction allows us to offer our clients just that,” said McMurray. “Clients of RBC Rundle will continue to receive the same high quality advice and service they’ve come to rely on.”