Chicago-based IPA 100 firm Grant Thornton (FY23 net revenue of $2.4 billion) and Grant Thornton Ireland have closed their previously announced transaction to create a global multidisciplinary platform providing audit, advisory and tax services to a growing international client base. The transaction was backed by an investor group led by New Mountain Capital, a leading growth-oriented investment firm.
The new platform of roughly 12,000 professionals will include a united Trans-Atlantic advisory and tax practice, as well as independent audit practices. Its more than 50 global offices will span the U.S., Ireland and other territories. The new organization will continue to be part of the Grant Thornton International Limited network, which provides access to more than 150 markets globally.
Grant Thornton Advisors’ CEO, Seth Siegel, will continue in his leadership role and Ireland’s Steve Tennant will become a member of Grant Thornton advisors’ executive committee.
“Today marks a pivotal moment as we create a unique organization within the Grant Thornton network, and a compelling new platform within our industry,” said Siegel. “We will be at the forefront of exceptional quality and differentiated solutions for a growing international client base — offering seamless cross-border collaboration and cutting-edge technologies.”
Tennant remarked, “This new platform’s unmatched talent, comprehensive solutions and international reach — backed by a commitment to quality — will deliver exceptional results for clients and foster sustainable success for years to come. At the same time, we’ll become an employer of choice across global markets with a common client-centric culture.”
Andre Moura, managing director at New Mountain Capital, said, “We are pleased to support Grant Thornton in the US and Ireland as they create a global platform. This represents a strong first step in bringing together two of the highest quality firms in the Grant Thornton network, under a unified structure. We believe the enhanced scale and capability-set of the new platform will bring significant benefits to Grant Thornton’s clients, partners and staff, and we look forward to continuing to support the organization as it pursues additional M&A opportunities.”
