International private equity firm Cinven, has announced it has reached an agreement to make a majority investment in Grant Thornton UK.
Cinven confirmed that Grant Thornton’s current UK partner base will remain invested in the business, as a significant shareholder alongside the Cinven funds.
Samy Jazaerli, Principal in Cinven’s Financial Services Sector team, said: “Accounting Services has been a priority sector for Cinven’s Financial Services team, and Grant Thornton’s strong brand, broad product offering, blue-chip customer base, and successful track record set it apart in the UK market. Drawing on our significant experience of partnering with management teams to accelerate the growth of high-quality companies and our strong presence in the UK and internationally, Cinven is well placed to support the acceleration of the Company’s strategy and maintain its growth momentum.”
The transaction is subject to Partner ratification, regulatory approvals and customary closing conditions.
Grant Thornton was advised by Rothschild (M&A), DLA Piper (Legal), LEK (Commercial) and EY (Financial & Tax).
Cinven was advised by Goldman Sachs International (M&A), Freshfields (Legal), Oliver Wyman (Commercial), EY (Financial & Operations) and Deloitte (Tax).
