Grant Thornton considers private equity deal to boost growth

Grant Thornton is looking for a private equity investor to invest in the 100-year-old company.

The accounting giant is exploring a possible deal that would see the UK firm’s auditing arm remain majority-owned by its 220 partners, the Sunday Times reported.

The takeover comes amid a flurry of deals in the accountancy sector and just four months after the US arm of Grant Thornton agreed to sell a stake to investment firm New Mountain Capital to fund its growth plans.

This year’s research shows that 10 of the 30 largest US accounting firms could fall into the hands of buyout firms.

A Grant Thornton UK spokesperson said the firm was “not actively involved” in a transaction with a private equity firm but had “explored various avenues that could drive growth”.

Looking ahead: Grant Thornton is exploring a potential deal that would see the UK firm’s audit arm remain majority-owned by its 220 partners

Last year, the UK firm’s turnover rose 7 per cent to £654m, while profits rose by almost a fifth to £146m, meaning profit per partner came to £644,000.

The company employs 5,300 people in the UK across 24 offices and has 73,000 employees worldwide.

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