Table of Contents
Grant Thornton is seeking a private equity investor to buy a stake in the 100-year-old company.
The accounting giant is exploring a possible deal under which the UK company’s audit arm would remain majority-owned by its 220 partners, the Sunday Times reported.
This comes amid a wave of deals in the accounting sector and just four months after Grant Thornton’s US arm agreed to sell a stake to investment firm New Mountain Capital to fund its growth plans.
An investigation this year showed that ten of the 30 largest US accounting firms could fall into the hands of buyout firms.
A Grant Thornton UK spokesman said the firm was “not actively engaged” in a transaction with a private equity firm, but said it had explored “a number of avenues that would drive growth.”
Looking ahead: Grant Thornton is exploring a potential deal whereby the UK firm’s audit arm would remain majority-owned by its 220 partners
Last year, the British firm’s sales rose 7 per cent to £654m, while profits rose by almost a fifth to £146m, meaning earnings per partner reached £644,000.
The company employs 5,300 people in the UK across 24 offices and has 73,000 employees worldwide.
DIY INVESTMENT PLATFORMS
AJ Bell
AJ Bell
Easy investment and ready-to-use portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free investment ideas and fund trading
interactive investor
interactive investor
Flat rate investing from £4.99 per month
eToro
eToro
Stock Investing: Community of Over 30 Million
Trade 212
Trade 212
Free and commission-free stock trading per account
Affiliate links: If you purchase a product This is Money may earn a commission. These offers are chosen by our editorial team as we believe they are worth highlighting. This does not affect our editorial independence.
Compare the best investment account for you
