20 AUG 2025 / M&A UPDATES

Grant Thornton to Acquire Strategy Consulting Firm Stax

- MYCPE ONE Insights Team

Summary

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Chicago-based accounting and advisory firm, Grant Thornton, is set to acquire the Boston-based strategy consulting firm, Stax, which specializes in commercial due diligence, value creation, and exit-planning services for private equity (PE) firms. The acquisition, scheduled to close by 2025, will add 300 professionals to Grant Thornton Advisors and aims to strengthen capabilities, expand global reach, and enhance tech-enabled services for clients.

Grant Thornton, the Chicago-based accounting and advisory firm, has announced plans to acquire Boston-based Stax, a leading strategy consulting firm specializing in commercial due diligence, value creation, and exit-planning services for private equity (PE) firms and their portfolio companies. The acquisition is expected to close in 2025, subject to customary conditions, and will add approximately 300 professionals to Grant Thornton Advisors.

Founded over 30 years ago, Stax has built a reputation for high client-retention rates and long-standing relationships with leading players in large-cap and middle-market PE, alternative investments, and investment banking. The firm has grown rapidly while maintaining its focus on tech-enabled, data-driven solutions that deliver strategic value.

Grant Thornton is supported by New Mountain Capital, a growth-focused investment firm with approximately $55 billion in assets under management. Leaders from both firms emphasized that the combination strengthens capabilities, expands geographic reach, and enhances technology-enabled services for clients worldwide.

Jim Peko, CEO of Grant Thornton Advisors, said the acquisition combines two legacies of client service and innovation, while Advisory Services MP Tom Puthiyamadam called it “a leap forward” in delivering outcomes for PE and corporate clients. Stax CEO Jayson Traxler highlighted that joining Grant Thornton will provide greater scale and speed, allowing the firm to amplify its impact while preserving its unique strengths.

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