Professional services giant Grant Thornton US is set to acquire the firm's Australian counterpart, integrating it into its global advisory platform and boosting the private equity-backed player's international reach.
Deal Details and Approval
Grant Thornton US announced that the transaction was recommended by the board and is expected to close later this year, subject to shareholder partner approval and standard regulatory conditions. The firm stated that the deal will bring additional scale and momentum tied to the Australian firm's annual revenues and benefit from Grant Thornton Australia's market strength and reputation for quality.
The Australian affiliate is valued at approximately $800 billion (£425 billion), according to a report by The Australian Financial Review. This brings the US firm's value to roughly 3.5 times that of Grant Thornton UK, based on enterprise value figures analyzed by City AM.
Strategic Benefits and AI Expansion
Jim Peko, chief executive of Grant Thornton US, said the proposed deal will allow the firm to build a differentiated platform with scale and purpose. As part of the agreement, the firm also plans to expand its AI capabilities and open new career pathways for young recruits and graduates.
Said Jahani, chief executive of Grant Thornton US, added: "Joining the Grant Thornton Advisors platform would give us accelerated access to emerging tech capabilities and growth capital, accelerating our ambition to build Australia's most modern, internationally aligned professional services firm."
Private Equity Investment Impact
In March 2024, Grant Thornton US sold a majority stake in its business to New York-based private equity investment firm New Mountain Capital. The accountancy giant's UK partners followed suit, and in December 2024, they voted unanimously to proceed with a private equity deal from investment firm Cinven, following reports months earlier that it was considering selling a stake to PE.
Consequently, Grant Thornton UK became the largest professional services firm to take external private equity investment in the country. In an ambitious push in November 2025, the firm announced plans to hire 160 new partners over the next two years. The firm reported double-digit growth in 2025 following the PE investment, with UK net revenue rising from £654 million to £724 million in December 2024.
