Ryan acquires majority stake in tax consultancy Dhruva Advisors

Dhruva Advisors, a leading tax advisory firm in India, has announced a strategic investment from Ryan aimed at accelerating its next phase of growth.

Founded in 2014, Dhruva Advisors is a tax and regulatory advisory firm with a strong presence in India (11 offices), the Middle East (3 offices), and Singapore. The company has grown into a 500-person firm, led by a team of 38 partners and senior leaders.

The deal with Ryan, a global tax services and software provider, will see the US-headquartered group hold a majority stake in Dhruva Advisors. In return, the partners of Dhruva Advisors will receive equity in Ryan. Specifically in the India market, the two companies will form a joint venture business.

Dinesh Kanabar, Chairman and CEO of Dhruva Advisors, said that the joining of forces with Ryan is driven by the wish to accelerate the firm’s international growth, and deepen its offerings to better meet the evolving needs of clients.

“Joining Ryan extends our global reach. It also provides the strongest platform for our multinational clients and team members for continued success,” Kanabar said.

For Ryan, the deal marks a major expansion of its services in India, where it has operated for more than two decades and maintains offices in Hyderabad and Bengaluru. The Middle East represents a new market for the firm, as does Singapore, although Ryan already has a regional presence through its operations in Manila, the Philippines.

“This strategic investment underscores Ryan’s commitment to serving clients in strong growth regions with evolving regulation,” said Chairman and CEO George Brint Ryan. “By leveraging Dhruva Advisors’ hands-on, local tax experts with our integrated, end-to-end tax solutions, our teams will deliver unrivaled client success in these flourishing markets.”