Grant Thornton snaps up Australian sister firm as part of global push
Professional services giant Grant Thornton US is set to acquire the firm’s Australian counterpart to become part of its global advisory platform, boosting the private equity-backed player’s global reach.
Grant Thornton US said the transaction was “recommended by the board and would close later this year, subject to shareholder partner approval and standard regulatory conditions.”
The firm said this 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 $800bn (£425bn), according to a report by The Australian Financial Review.
This brings the US firm’s value to approximately 3.5 times that of Grant Thornton UK, based on the enterprise value figures Morning Wire analysed.
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 deal, the firm also plans to expand its AI capabilities and open new career pathways for young recruits and graduates.
“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,” Grant Thornton US chief executive, Said Jahani, said.
Private equity is paying off
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, voted unanimously to go ahead with a private equity deal from investment firm Cinven, following reports months earlier in July that it was considering selling a stake in its business to PE.
Consequently, Grant Thornton UK became the largest professional services firm to take external private equity investment in the country, and in an ambitious push in November 2025, said it is eyeing plans to hire 160 new partners over the next two years.
The firm reported double-digit growth in 2025 following the injection of PE investment, receiving regulatory approval, with its UK net revenue rising from £654m to £724m in December 2024.