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KNAV Expands Global Presence with Merger with HLG Netherlands
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Subscribe04 NOV 2024 / M&A UPDATES
Atlanta-based KNAV Advisory Inc., with FY23 net revenue of $17.3m, is merging with HLG Netherlands, following a five-year joint venture. The merger strengthens KNAV's global presence, and by combining resources of both companies, they will provide enhanced services to multinational clients while expanding their service offerings and international network.
KNAV Advisory Inc., an Atlanta-based firm with FY23 net revenue of $17.3 million, has announced its merger with HLG Netherlands, effective October 16, 2024. This merger builds on a five-year joint venture between the two firms and strengthens KNAV's growing global presence. This marks KNAV's second significant merger of 2024, following its earlier acquisition of N&S in Singapore.
Strategic Integration to Enhance Global Service Capabilities:
The merger brings together two Allinial Global member firms, positioning KNAV to offer more cohesive services to its multinational clients. Nishta Sharma, CEO of KNAV, emphasized the value of the integration, noting it allows for a seamless experience in the Netherlands and strengthens the firm's ability to provide high-quality services across borders:
"This combination allows us to fully integrate our Netherlands operations, creating more value for our clients... This integration enhances our ability to deliver seamless, high-quality services across borders."
The merger builds on a partnership between the firms that has provided HLG Netherlands with access to KNAV’s global talent pool while also helping KNAV serve clients with subsidiaries in the Netherlands.
Expansion of Service Reach and Resources:
The merger offers HLG Netherlands increased capabilities, including access to KNAV’s international network, enabling the firm to offer a broader range of services to clients in the Netherlands. Carlos Apapoe, Managing Partner of HLG Netherlands, noted that the combination enhances their service offerings while retaining the personalized approach the firm is known for:
"This combination enhances our ability to serve our clients with expanded resources and global reach, while maintaining the personalized service we are known for."
Apapoe will also join KNAV’s Board of Directors, contributing to the integration and strategic direction of the combined firm.
Continued Growth and Strategic Investments:
KNAV’s growth strategy has been further supported by a minority investment in September 2024 from NK Squared, a U.S.-based investment vehicle of Nikhil Kamath. This investment, combined with the merger with HLG Netherlands, reflects KNAV’s ambition to solidify its position as a global player in accounting and consulting services.
With this acquisition, KNAV continues to enhance its international capabilities, providing clients with a broader suite of services while strengthening its position in key markets.
Until next time…
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