Grant Thornton in the US and Ireland close transformational transaction; create global multidisciplinary platform

Well-equipped organization will offer clients enhanced solutions and powerful technologies, backed by a global roster of quality-driven professionals

Grant Thornton Advisors LLC in the US (Grant Thornton Advisors) 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.

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The transaction was backed by an investor group led by New Mountain Capital, a leading growth-oriented investment firm with approximately $55 billion in assets under management.

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 US, 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.

This well-equipped organization will deliver a singular brand experience for current and prospective clients, immediately providing them with enhanced solutions and powerful technologies, backed by a global roster of quality-driven professionals. Likewise, the platform will become an employer-of-choice — providing exceptional professional-growth opportunities for current and future team members, underpinned by a compelling cross-border culture.

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. This is a transformative step as we become the destination of choice for clients and talent alike.”

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.”

Adam Weinstein, CFO and COO at New Mountain Capital, added: “We believe with the new global platform, Grant Thornton can bring its top tier quality and client service to an even greater international audience.”

The audit practice in Ireland will operate under an alternative practice structure similar to Grant Thornton in the US.

Deutsche Bank Securities Inc. served as sole financial adviser to Grant Thornton Ireland, while A&L Goodbody LLP acted as Grant Thornton Ireland’s legal adviser in relation to the transaction. Jefferies LLC and William Blair & Company, L.L.C. served as financial advisers to Grant Thornton Advisors LLC and New Mountain Capital, and Simpson Thacher & Bartlett LLP and William Fry LLP with Arthur Cox LLP served as legal advisers.

About Grant Thornton US

“Grant Thornton” is the brand for two professional-services entities operating across the US: Grant Thornton LLP, a licensed, certified public accounting (CPA) firm that provides audit and assurance services ― and Grant Thornton Advisors LLC (not a licensed CPA firm), which exclusively provides non-attest offerings, including tax and advisory services. With revenues of $2.4 billion for the fiscal year that ended July 31, 2023, and dozens of offices nationwide, Grant Thornton represents a community of more than 9,000 problem solvers, relationship builders, and industry specialists who know that how we serve matters as much as what we do.

Grant Thornton LLP, Grant Thornton Advisors LLC and their respective subsidiaries operate as an alternative practice structure (APS). The APS conforms with applicable laws, regulations and professional standards, including those from the American Institute of Certified Public Accountants.

Grant Thornton LLP and Grant Thornton Advisors LLC serve as the US member firms of the Grant Thornton International Ltd (GTIL) network. GTIL and its member firms are not a worldwide partnership and all member firms are separate legal entities. Member firms deliver all services; GTIL does not provide services to clients.

About Grant Thornton Ireland

Grant Thornton Ireland is a leading global professional services firm with approximately 2,700 people in offices across the island of Ireland, Bermuda, Isle of Man and Gibraltar. As a member of Grant Thornton International — a global network of more than 73,000 passionate people across more than 149 countries — we bring you the local knowledge, national expertise and global presence to help you and your business succeed, wherever you’re located.

Our tax, audit and advisory teams have decades of experience working with organizations across our key industries — technology, insurance, asset management, banking, life sciences, aviation, and e-money and payments — as well as in the public sector, delivering solutions that help you realize your ambitions and go beyond the expected.

Innovation and continuous improvement lie at the heart of what we do, and we are recognized leaders in sustainability, prioritizing resilience and long-term value creation alongside ethical practices and positive social impact. Our people invest the time to truly understand your business, giving real insight and a fresh perspective to help achieve the best outcomes for your business.

For further information visit: www.grantthornton.ie.

About New Mountain Capital

New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, credit and net lease investment strategies with approximately $55 billion in assets under management. New Mountain Capital seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit https://www.newmountaincapital.com/.

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