Dhruva Advisors, Ryan form joint venture after majority stake acquisition

Dhruva Advisors has partnered with global tax services firm Ryan, which has acquired a majority stake in the Indian advisory to expand tax services in India and overseas

Dhruva Advisors, an Indian tax and regulatory firm, has announced a strategic investment by Ryan, a global tax services and software provider. Under the transaction, Ryan will acquire a majority stake in Dhruva, creating a joint venture in India. Ryan’s senior leadership will join Dhruva’s board, while Dhruva’s partners will acquire equity in Ryan. Dinesh Kanabar, Chief Executive Officer of Dhruva Advisors, will assume the role of Vice-Chairman at Ryan.

 

Ryan Chairman and Chief Executive Officer G Brint Ryan said: “By leveraging Dhruva’s hands-on, local tax experts with our integrated, end-to-end tax solutions, our teams will deliver unrivalled client success in these flourishing markets. I welcome Dinesh to our leadership team and look forward to his contribution to our global growth plans.”

 

Dhruva Advisors, founded in 2014 by Dinesh Kanabar, has 38 partners and senior leaders supported by more than 500 professionals across 11 offices in India, the Middle East and Singapore. Its services cover corporate tax, regulatory advisory, mergers and acquisitions tax structuring, indirect tax, transfer pricing and cross-border trade compliance.

 

“My leadership team and I chose to partner with Ryan because we believe it provides the strongest platform for our clients and team members for continued success. I am encouraged by the alignment of our leadership teams to meet the growing needs of our multinational clients and look forward to driving that growth in my new role as Vice-Chairman at Ryan,” Kanabar said.

 

Ryan has been present in India for over two decades with its primary office in Hyderabad. The joint venture with Dhruva will expand operations in Dubai, Abu Dhabi, Riyadh and Singapore.