• Formed in 2017, HKA is a global consultancy in risk mitigation and dispute resolution, providing a comprehensive set of specialist offerings for the capital projects and Infrastructure sector
  • HKA was formed following Bridgepoint Development Capital’s (BDC) carve out of Hill International’s Construction Claims Group
  • HKA’s key service line offerings consist of advisory services, claims consulting, and expert witness services, which originally operated in the CP&I dispute resolution market. It has since expanded into adjacent markets including forensic technical services, forensic accounting & commercial damages, and government contracts
  • Over the last five years, HKA has increased its global presence, now residing in 18 countries worldwide across c. 40 offices, with more than 500 advisors, and consultants and 500+ expert witnesses


  • DC Advisory (DC), led by Richard Madden and Peter Augar, was engaged by PAI Partners (PAI), to co-advise on the acquisition of HKA
  • The DC team worked closely with PAI providing strategic advice - including valuation and future exit options, market and company intelligence
  • Throughout the process, DC leveraged its deep understanding of the professional services sector in order to help deliver a successful outcome


  • PAI signed an agreement to acquire HKA from BDC, following a competitive process
  • Under PAI’s ownership, HKA will continue to be led by CEO, Renny Borhan and an experienced group of Partners
  • The investment enables HKA to continue its impressive track record of growth, expand its service offering, and pursue value creation opportunities, including selective M&A
  • This transaction further enhances DC’s already strong track record in the professional services sector, specifically in consulting risk mitigation and dispute resolution
  • This transaction is subject to customary closing conditions and regulatory approval


“We would like to thank DC for their advice and support in delivering this transaction. HKA is uniquely positioned in the large and fragmented risk mitigation and dispute resolution market, with attractive long term growth prospects. We look forward to supporting Renny and his talented team as they pursue organic and inorganic initiatives to deliver their ambitious business strategy.”

Neil Mcllroy
Partner at PAI Partners


“We are delighted to have helped PAI on the acquisition of HKA. Over the last five years, Renny and his team have built an independent business with an excellent track record for growth. We look forward to seeing HKA thrive under PAI’s ownership and are confident they will continue to accelerate their upward trajectory through both inorganic and organic growth.”

Richard Madden
CEO at DC Advisory UK