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“Our partnership with New Mountain Capital empowers Grant Thornton to ship transformational, high-quality outcomes for our shoppers, our proficient staff members and the business as an entire,” mentioned Seth Siegel, CEO of Grant Thornton. “The funding instantly enhances our price within the market and permits us to speed up our present technique. We’ll get pleasure from higher scale, assets and agility, whereas higher positioning the agency to make focused investments in expertise, know-how, infrastructure and enhanced capabilities. Grant Thornton will additional solidify our place because the business’s platform of selection.”
Andre Moura, managing director at New Mountain Capital, mentioned, “We now have been deeply impressed by the Grant Thornton staff, and in our analysis, Grant Thornton ranked on the highest ranges within the U.S. as measured by the standard of its work product and the satisfaction of its shoppers, even at a a lot cheaper price to shoppers. Grant Thornton’s distinctive tradition drives the distinctive service the agency supplies its shoppers, and we stay up for working with Grant Thornton to speculate additional in know-how and automation, expertise and new service line capabilities to attain fast development — whereas sustaining an unwavering give attention to high quality and shopper expertise.”
“We’re thrilled to assist Grant Thornton because it advances its superior, technology-enabled audit, tax and advisory providers platform. Grant Thornton affords its shoppers a compelling worth proposition and we stay up for serving to the agency develop its service choices and execute on strategic acquisitions to constantly develop its platform,” added Nikhil Devulapalli, managing director at New Mountain Capital.
Siegel cited Grant Thornton’s upcoming 100-year anniversary as a companion milestone to its partnership with New Mountain Capital: “We take nice pleasure in our many accomplishments over the previous century, and partnering with New Mountain Capital will make sure that we absolutely capitalize on the compelling alternatives that may outline our subsequent century. They share our requirements and our imaginative and prescient, and collectively we are going to reshape the business panorama, whereas enhancing Grant Thornton’s worth proposition for our full vary of stakeholders.”
The transaction is topic to regulatory approval and different customary closing circumstances. Following the closing of the transaction, which is anticipated within the second calendar quarter of 2024, Grant Thornton will function in another apply construction: Grant Thornton LLP, a licensed CPA agency, will present attest providers — and Grant Thornton Advisors LLC will present enterprise advisory and non-attest providers. The aim-built construction will guarantee the best potential customer service and an unwavering give attention to high quality.
Deutsche Financial institution Securities Inc. is serving as sole monetary adviser to Grant Thornton. Dechert LLP and Vedder Value P.C. are serving as authorized advisers to Grant Thornton. Mayer Brown LLP is appearing as authorized adviser to Grant Thornton’s Partnership Board. Simpson Thacher & Bartlett LLP and Hunton Andrews Kurth LLP are serving as authorized advisers to New Mountain Capital.
SOURCE: Grant Thornton LLP
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