Grant Thornton Strengthens Its Position in the UAE with New Strategic Merger

The landscape of professional services in the UAE is set for a transformation as Grant Thornton UAE joins forces with Grant Thornton Advisors, a newly established platform designed to capitalize on private equity backing. This strategic move aims to bolster the capabilities and reach of both entities within the fast-evolving business environment.

A New Era: The Formation of Grant Thornton Advisors

Earlier in January, the US and Irish branches of Grant Thornton cemented their merger, effectively creating a robust network that encompasses approximately 12,000 professionals. This merger was supported by an investor coalition led by New Mountain Capital, marking a pivotal moment in the firm’s growth strategy. By integrating their services under a single, unified brand, the two branches aim to provide a seamless experience for their clients while maintaining operational autonomy at the local level.

Integrated Operating Model

At the core of Grant Thornton Advisors’ strategy is the vision for an integrated operating model. While the firm will operate under one brand, the network of independent local businesses functions beneath the surface. This model is designed to enhance client delivery and performance across geographical borders, thus optimizing the overall service experience.

CEO Jim Peko envisions this platform as a game-changer, stating, “With Grant Thornton Advisors, we’re creating a unique organisation within the Grant Thornton network.” His aspirations include delivering high-quality, differentiated solutions that cater to an expanding international client base.

Welcoming the UAE into the Fold

The UAE’s inclusion into the Grant Thornton Advisors platform marks a significant victory. Led by Hisham Farouk, the UAE branch has recently announced its affiliation, signaling an exciting new chapter. Farouk expressed optimism about this merger’s potential to heighten value for clients, stating, “By integrating our expertise, technology, and insights, we’re creating a pathway for sustained growth.”

This expansion is particularly noteworthy as the UAE team was recognized as Grant Thornton’s star growth performer in an internal competition last year. With approximately 800 staff members across offices in Dubai, Abu Dhabi, and Sharjah, their inclusion not only strengthens the regional capabilities but also enhances the overall value proposition for clients.

Focus on Innovation and Growth

According to Peko, “Scaling our offerings and footprint by uniting with Grant Thornton UAE underscores our focus on advancing a combined platform.” The purpose is clear: in an ever-evolving business landscape, clients require reliable advisors who can offer high-quality, innovative solutions tailored to dynamic sectors. The merger aims to cultivate a world-class client experience that meets these needs.

Farouk Mohamed, the Founder and Chairman of Grant Thornton UAE, echoed this sentiment. He noted that joining the multinational platform embodies their commitment to innovation, collaboration, and global influence, further reinforcing the firm’s reputation as a leader in the region.

The Role of Financial and Legal Advisers

As a part of this strategic move, Lumina served as the sole financial adviser to Grant Thornton UAE, ensuring that the partnership is grounded in robust financial guidance. Additionally, Taylor Wessing acted as the legal adviser, facilitating the legal aspects of the merger.

A Vision for Global Expansion

Looking ahead, Grant Thornton Advisors is poised for further growth, with plans to add more member firms to its network in the coming months. With a combined workforce of 13,000 staff, the platform is set to enhance its collaborative capabilities across high-growth sectors and expanding geographies.

In this rapidly changing business environment, the establishment of Grant Thornton Advisors, alongside the integration of the UAE division, sets the stage for a new dynamic in the professional services arena. With strategic goals aligned around innovation and excellence, this alliance is well-positioned to thrive as part of a broader global framework.