Bank of Nova Scotia has bought Waterous & Co., a global oil and gas acquisition and divestitures firm, for an undisclosed amount, the bank announced today.

Scotiabank will merge the existing oil and gas mergers-acquisitions department of Scotia Capital with Waterous to form Scotia Waterous.

“The acquisition of Waterous & Co. is evidence of our strong commitment to growing Scotia Capital’s mergers and acquisitions franchise,” said David Wilson, Scotia Capital CEO, said in a release

“In addition, this move represents a significant new investment by Scotia Capital in one of our most important industry groups.”

Watero. founder Jeffrey Waterous will remain as non-executive chairman of Scotia Waterous.

Founded in 1987, Waterous has 75 employees and offices in Calgary, Houston, Denver, London, Singapore and Gibraltar.