New Mountain Leads Investor Group Backing Merger of Grant Thornton U.S. and Ireland

Grant Thornton Advisors entered an agreement to combine with Grant Thornton Ireland’s advisory and tax businesses, with backing from an investor group led by New Mountain Capital, a growth-oriented investment firm with approximately $55 billion in assets under management. The Grant Thornton Ireland audit business will continue as an independent partnership and operate under an alternative practice structure._x000D_
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“This is a landmark year, as we’re commemorating Grant Thornton’s 100th anniversary in the U.S., and I can’t think of a better way to do it than by spearheading a seamless and integrated global platform with Grant Thornton Ireland — one that puts us in the vanguard of high-growth and high-quality firms,” Seth Siegel, CEO of Grant Thornton Advisors, said. “We share a common focus on client centricity, culture and delivering the highest quality results on a global scale. This strategic move signals a pivotal time in our industry that enables our clients to benefit even more from our innovative services with industry-leading execution, and bolsters accelerated and meaningful career-growth opportunities for all our professionals.”_x000D_
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“This transformational partnership will enhance our appeal to a much broader international client base, as the first truly integrated U.S. and Irish professional services firm, combining the expertise and reach of both firms,” Steve Tennant, CEO of Grant Thornton Ireland, said. “This is a key moment in shaping the future of professional services in a rapidly evolving global landscape, and we are looking forward to partnering together to accelerate growth and deliver impactful benefits for our people and clients across diverse industries and geographies.”_x000D_
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“New Mountain Capital is proud to support the coming together of Grant Thornton in the U.S. and Ireland,” Andre Moura, managing director at New Mountain Capital. “This is an exciting step forward in our growth strategy that enhances the Grant Thornton brand and international capabilities.”_x000D_
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“There is a significant opportunity for accelerated growth together, and we look forward to helping Grant Thornton bring its exceptional quality and client service to even more global clients,” Adam Weinstein, chief operating officer at New Mountain Capital, said._x000D_
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Upon closing of the transaction, which is expected in the first quarter of next year, subject to regulatory approval, Grant Thornton Advisors and Grant Thornton Ireland will continue to offer clients advisory and tax solutions. The combined business, which will be led by Siegel, will go to market together in all of the territories where each firm currently has a presence. Tennant will assume the role of president of Grant Thornton Ireland and will become a member of Grant Thornton Advisors’ executive committee._x000D_
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Simpson Thacher & Bartlett and William Fry with Arthur Cox are serving as legal advisers to Grant Thornton Advisors and New Mountain Capital. Deutsche Bank Securities is serving as sole financial adviser to Grant Thornton Ireland, while A&L Goodbody is acting as Grant Thornton Ireland’s legal adviser in relation to the transaction.