Lumina is delighted to have acted as lead M&A adviser to the shareholders of Grant Thornton UAE on its combination with Grant Thornton Advisors LLC
Lumina is delighted to have acted as lead M&A adviser to the shareholders of Grant Thornton UAE on its combination with Grant Thornton Advisors LLC, the multinational platform backed by US private equity firm New Mountain Capital.
Grant Thornton UAE, is a leading assurance, advisory, and tax services firm, with offices across Abu Dhabi, Dubai and Sharjah, and a member of the Grant Thornton International network. The combination brings together the UAE business with the multinational professional services platform operating across the US, Ireland, Luxembourg, Bermuda, Isle of Man and Gibraltar, with backing from an investor group led by New Mountain Capital, a leading growth-oriented investment firm with approximately $55 billion in assets under management
The Middle East professional services market is expected to grow at 5.8% CAGR in the five years to 2029, driven by increasing levels of regulation, a rising demand for specialised services and further globalisation as international businesses open regional bases. The deal exemplifies a complex set of key strategic themes playing out in the growing Middle East M&A professional services space:
Region as an ongoing global bright spot, despite uncertainty in global markets – underscoring the importance of a regional presence as firms seek to deliver truly international platforms to global client bases
Private equity reaffirms commitment to regional dealmaking – private equity continues to back the high growth nature of the region by deploying further capital. More so than ever, we are seeing this across the private equity value chain, from global leaders such as New Mountain Capital and Brookfield to mid-market European private equity firms such as Sovereign and Exponent. The Middle East is a focus area for these firms looking to deploy capital whether by platform investments or buy & build strategies
Business services continues on its upwards trajectory – a notable continuation of M&A activity in the Middle East business services sector, with investors attracted to the proven earnings resilience of the sector, the growth potential of the region and the value creation opportunities as traditional models are being enhanced by advancements in technology, outsourcing and AI
Deep understanding of Middle East and International Markets required – the deal is a standout example of Lumina leveraging our 150+ years of international deal experience to bridge the gaps between the Middle East, European and US deal ecosystems. Lumina led on managing numerous international stakeholders, advising on multifaceted deal structuring issues and negotiating highly complex closing mechanics to bring the deal to completion in an accelerated time frame
Andrew Nichol, Senior Partner at Lumina, commented
“We are delighted to have acted as lead M&A advisers to the shareholders of Grant Thornton UAE on this transaction. The combination of Grant Thornton UAE with Grant Thornton Advisors LLC, the multinational platform backed by US private equity firm New Mountain Capital, reflects global confidence and increasing private equity activity in the region. It also represents the exceptional platform the shareholders have built in GT UAE. After a period of outstanding growth, we look forward to seeing the combined multinational platform continue to flourish and capitalise on new opportunities and network and talent synergies in what is an extremely exciting time for the professional services industry.”
For further information, please contact Andrew Nichol or James Jarvis.