DLA Piper is advising diversified professional services firm Grant Thornton UK on the majority investment in the firm by global private equity firm Cinven.
The investment was approved by the Grant Thornton UK partnership on 12 December with closing of the transaction expected to occur toward the end of Q1 2025.
The partners will remain invested in the business as a significant shareholder alongside Cinven.
The investment underlines Cinven’s “strong conviction in the firm’s leading platform and prospects for sustained growth”.
The DLA Piper team was led by Corporate Partner Chris Arnold and supported by a Partner Phil Allenby and Senior Associates Isabella Gee and Harry Eastgate.
DLA Piper Corporate Partner Chris Arnold says it’s an exciting deal for Grant Thornton and one that will undoubtedly set the scene for similar deals in the professional services industry in the future.
“With Grant Thornton’s strong brand, broad product offering and blue-chip customer base, combined with Cinven’s experience, financial strength and shared values, we look forward to seeing the firm accelerate into its next stage of growth. We have truly enjoyed working with the Grant Thornton team on the ground-breaking transaction,” Arnold says.
Grant Thornton UK Chief Executive Malcolm Gomersall says the firm recognises the opportunity that external investment can offer to help it further accelerate growth, “whilst retaining our partnership structure and ethos, and provide an outstanding experience for our people and clients”.
“The story of our growth journey over recent years has been remarkable. We’ve weathered some of the most significant macroeconomic events in history and we’ve come out of them even stronger, both financially and culturally. The dynamics of our sector, both here in the UK and internationally, have also changed dramatically over recent years,” says Gomersall.
Dating back to 1904, Grant Thornton is one of the oldest professional services firms in the UK and today is one of the country’s largest accounting and advisory services firms, offering audit, tax, and advisory services.
Led by more than 240 partners and with more than 5,500 employees across over 20 offices in the UK, the firm serves a wide and diverse client base focused on medium and large corporates, government organisations and individuals.
Write to Adam Orlando at Mining.com.au
Images: Stock & DLA Piper
