Private equity – coming to a firm near you?

Private equity firm CVC Capital Partners is reportedly looking to buy a controlling stake in Grant Thornton UK, according to Sky News.

Negotiations are at a very early stage, with the accountancy firm being valued at between £1bn and £2bn.

Sky News said that CVC Capital Partners is one of several buyout firms preparing to table a bid.

Any deal would have to approved by Grant Thornton’s 200 partners. In the US the firm has sold a majority stake to New Mountain Capital.

In the latest issue of PQ magazine columnist Robert Bruce wrote about the rise of private equity interest in accountancy firms. He said: “Beware accountants when they get a whiff of money.” He also felt such moves will worry regulators, and reputational risk multiplies. Check out Bruce’s column (on page 6): https://issuu.com/pqpublishing/docs/pq_sept24_multi.

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