#Dubai #UAE #New Mountain Capital #Grant Thornton UAE #Grant Thornton Advisors

Grant Thornton UAE Joins a Multinational Advisory Platform

In a significant move for its future, Grant Thornton UAE announced its agreement to integrate with Grant Thornton Advisors LLC, joining a unique multinational platform developed earlier this year. The collaboration comes under the purview of a consortium led by New Mountain Capital, an investment firm with approximately $55 billion in assets under management.

With this unification, Grant Thornton UAE will be part of a growing network of over 13,000 professionals spread across more than 50 offices. This collaboration is poised to enhance the range of services provided to clients and improve the collective talent pool within the organization.

Leadership remains intact as Jim Peko, the CEO of Grant Thornton Advisors, continues to steer the platform, while Hisham Farouk, the CEO of Grant Thornton UAE, retains oversight of operations in the region. Alongside this agreement, Grant Thornton Cayman and Grant Thornton Luxembourg are also merging with the organization through separate agreements with Grant Thornton Advisors. This expansion reflects a strategic vision to identify growth opportunities in various service lines and regions that align economically and maintain client consistency.

Jim Peko emphasized that “scaling our offerings and footprint by uniting with Grant Thornton UAE underscores our focus on advancing a combined platform, with multinational experience and exemplary quality.” The sentiment of growth and enhancement is mirrored by Hisham Farouk, who expressed excitement about this unification marking a transformative chapter for Grant Thornton UAE, strengthening its competitive standing in a dynamic market.

Steve Tennant, Managing Partner at Grant Thornton Ireland, who coordinated the acquisitions on behalf of Grant Thornton Advisors, reinforced that this platform represents a unique entity in the accounting and consulting sector, aimed at delivering an extraordinary experience coupled with exceptional quality. Meanwhile, Andre Moura, Managing Director of New Mountain Capital, heralded the partnership as groundbreaking, marking a pivotal advancement in Grant Thornton UAE’s journey towards innovation, collaboration, and global impact.

With nearly six decades of operational presence in the UAE, this partnership signifies a new trajectory for Grant Thornton UAE. Farouk Mohamed, Founder and Chairman of Grant Thornton UAE, remarked that it charts a novel course in their quest for broader influence and reliability in advisory services.

The financial and legal advisory in this transition was supported by Lumina Capital Advisers Limited, serving as the principal financial adviser, and Taylor Wessing LLP, acting as the legal adviser during the transaction. This strategic partnership not only transforms Grant Thornton UAE’s operational posture but also promises an enriched client experience and value proposition.