US tax firm Ryan takes majority stake in India’s Dhruva Advisors

Tax advisory firm Dhruva Advisors on Tuesday announced an undisclosed strategic investment from Ryan Llc, a US-based global tax services and software provider.

According to the transaction, Ryan will acquire a majority stake in Dhruva to create a joint venture with Ryan in India. While Ryan’s senior leadership will join the board of Dhruva, the latter’s partners will acquire equity in Ryan.

“Tax is now a global phenomenon and the supply chain is challenged because of tariffs. Clients are looking for global solutions and Ryan will be able to provide that. At the same time, Ryan has 7,000-plus clients and they are looking at ways to get services for them. This is a huge opportunity,” Dinesh Kanabar, chief executive officer of Dhruva Advisors, told Mint.

Kanabar will be named vice chairman at Ryan. He did not comment on the equity percentage.

The Ryan-Dhruva joint venture will compete with global audit firms like PwC, KPMG, Deloitte, and EY as Indian companies and investors across sectors have been left scrambling for solutions following the US’s steep tariffs on Indian goods.

The synergies

Dhruva, with more than 28 partners, advises clients in the aerospace, automotive, chemicals, finance, healthcare, technology, and real estate industries. Its areas of focus include corporate tax and regulatory advisory, mergers and acquisitions, tax structuring, indirect tax, transfer pricing, and cross-border trade compliance.

Ryan’s focus areas include international tax services across cost management, compliance, consulting, and technology services.

“By leveraging Dhruva’s hands-on, local tax experts with our integrated, end-to-end tax solutions, our teams will deliver unrivaled client success in these flourishing markets,” said G. Brint Ryan, chairman and CEO of Ryan.

The US company has been in India for more than two decades and has an office in Hyderabad.

Ryan and Dhruva will now expand across the broader Asia and West Asia region with offices in Dubai, Abu Dhabi, Riyadh, and Singapore, the companies said in a statement on Monday.