Grant Thornton, a provider of audit, assurance, tax and advisory services, and New Mountain Capital, a growth-oriented investment firm with approximately $50 billion in assets under management, closed a significant growth investment in Grant Thornton that will accelerate the firm’s business strategy. CDPQ and OA Private Capital made minority investments in Grant Thornton alongside New Mountain Capital.
“We continue to be impressed by the Grant Thornton team and their unwavering focus on delivering the highest levels of quality and client experience,” Andre Moura, managing director at New Mountain Capital, said. “In this next chapter, we look forward to partnering with the team to invest even further in people, technology and new service line capabilities to accelerate the growth trajectory Grant Thornton is already on.”
“We see numerous opportunities to further enable Grant Thornton’s top tier talent with targeted technology investments and are excited to support the company in bringing its services to even more clients across key markets,” Nikhil Devulapalli, managing director at New Mountain Capital, said.
“Grant Thornton exemplifies the business qualities that New Mountain Capital looks to invest behind and its leading quality and strong culture position it well for the future,” Adam Weinstein, managing director, chief operating officer and chief financial officer of New Mountain Capital, said.
“Grant Thornton will soon celebrate our 100th year in business — an anniversary distinguished by our firm’s strong momentum, unparalleled team and recent record-setting revenues,” Seth Siegel, CEO of Grant Thornton Advisors, said. “Partnering with New Mountain Capital, CDPQ and OA Private Capital will empower us to accelerate our winning strategy, benefit our clients and team members and solidify our position as the industry’s platform of choice for the next 100 years.”
“With additional support behind us, including access to enhanced technology and other resources, we see great potential to quickly expand upon our current capabilities and drive even better holistic support and execution for our clients,” Jim Peko, chief operating officer of Grant Thornton Advisors, said.
Guggenheim Securities and Jefferies served as financial advisers to New Mountain Capital. Simpson Thacher & Bartlett and Hunton Andrews Kurth served as legal advisers to New Mountain Capital. Jones Day served as legal adviser to CDPQ and Gibson, Dunn & Crutcher served as legal advisers to OA Private Capital. Deutsche Bank Securities served as sole financial adviser to Grant Thornton. Dechert and Vedder Price P.C. served as legal advisers to Grant Thornton. Mayer Brown acted as legal adviser to Grant Thornton’s Partnership Board.
