BrazilRenoir Consulting buys ESG boutique consultancy in the UAE
Global player Renoir Consulting has expanded its capabilities in the Middle East and the ESG space with the acquisition of Dubai-based ESG Integrate.
With around 300 consultants and offices in 15 countries, Renoir Consulting is one of the world’s larger consultancies specialised in business transformation and change.
With a growing number of clients turning to the firm for ESG support, Renoir Consulting earlier this year launched a process to find the right partner to accelerate its footprint in the landscape. “We immediately felt that ESG Integrate was the perfect acquisition and fit with Renoir Consulting,” said Group Chief Strategy Officer, Kevin McCartney.
“We had been looking to build on our ESG practice and services. This strategic move highlights the growing interest in ESG among investors and other stakeholders globally, and in the Middle East,” he added. “We are all excited with the opportunities that ESG Integrate brings.”
Founded in 2020, ESG Integrate has since its inception grown into a consultancy with 5-10 professionals. “We support corporations and institutional investors through their entire ESG transformation journey including analysis, strategy, implementation, and reporting services,” said Imad Alfadel, Founder and Managing Partner of ESG Integrate.
ESG Integrate has become a fully-owned division of Renoir Consulting and will spearhead its ESG portfolio, with Alfadel appointed as leader of the ESG practice.
Commenting on the deal, Krishna Paupamah, CEO of Renoir Consulting said: “Companies are no longer satisfied with just the recommendations and strategies – they need support with the execution, the implementation, and the deliverables of ESG strategies.”
“The capabilities and expertise of ESG Integrate, paired with our industry-proven approach and methodologies, will enable us to offer world-class execution of ESG strategies to current and future clients.”
Renoir Consulting was founded in 1994. The company is headquartered in Geneva, Switzerland. The firm already had an office in Abu Dhabi, and now has Dubai as a second location in the Middle East.
ESG consulting deals
In other recent ESG related consulting deals, Boston Consulting Group last month bolstered its sustainability practice with the acquisition of Quantis, a Switzerland-headquartered firm with around 250 environmental consultants. Last year, fellow strategy consultancy McKinsey & Company closed three sustainability-focused acquisitions.
Accenture and the Big Four, as well as specialists such as ERM and Anthesis Group, have been most active in the deals space, altogether closing more than a dozen transactions over the past twelve months.
