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Highlights
- Grant Thornton UK secures major investment from Cinven, a global private equity firm.
- Transaction set to close by Q1 2025, enhancing firm’s growth trajectory.
- Partners will maintain significant ownership while gaining financial backing from Cinven.
DLA Piper has been appointed to advise Grant Thornton UK, a leading accounting and advisory firm, on an exciting development. Cinven, a global private equity powerhouse, will be making a majority investment in Grant Thornton UK. This major move marks an exciting phase in the growth journey of the firm, expected to close towards the end of Q1 2025.
Grant Thornton UK (LSE:GTUK) has long been regarded as one of the oldest and largest professional services firms in the United Kingdom, offering a wide array of audit, tax, and advisory services since its inception in 1904. With a strong presence across more than 20 offices in the UK, the firm currently employs over 5,500 professionals, and its clientele spans medium and large corporates, government bodies, and high-net-worth individuals.
The deal was approved by the firm’s partners in December 2024, with Cinven's strategic partnership intended to provide the financial expertise, support, and leadership required to propel Grant Thornton into its next phase of development. Cinven's (LSE:CIVN) confidence in Grant Thornton UK's established platform and promising growth prospects underscores the potential this deal holds. Both companies share the objective of capitalizing on opportunities to expand in the professional services industry globally.
Under the new arrangement, the partners of Grant Thornton UK will retain a significant stake in the business, ensuring the firm continues to prioritize its partnership structure, culture, and client-first approach. This decision reflects the firm’s belief in external investment as a tool for accelerated growth while staying true to its roots and maintaining an exceptional service experience for clients and staff.
Chris Arnold, a Corporate Partner at DLA Piper, expressed excitement about the potential that this transaction holds for the professional services industry, highlighting the synergy between Grant Thornton’s brand reputation and Cinven’s financial strength and experience.
In a statement, Malcolm Gomersall, CEO of Grant Thornton UK, emphasized the remarkable journey of the firm’s growth, overcoming substantial economic challenges while evolving into a stronger, more resilient player in the sector. He noted that the partnership with Cinven aligns perfectly with the firm’s ambitions for continued success and growth in the UK and international markets.
This development sets a new precedent for the professional services sector, marking a transformative opportunity for Grant Thornton UK (LSE:GTUK) to strengthen its competitive edge under the guidance of Cinven (LSE:CIVN). As the closing date approaches, industry watchers will eagerly anticipate how this strategic partnership unfolds.
