Grant Thornton Secures Significant Investment from New Mountain Capital
In March 2024, Grant Thornton LLP, a leading provider of audit, assurance, tax, and advisory services in the United States, announced a substantial growth investment from New Mountain Capital, a growth-oriented investment firm with approximately $50 billion in assets under management.
Strategic Objectives
This investment aims to accelerate Grant Thornton's business strategy by enhancing its scale, resources, and agility. The firm plans to utilize the capital to invest in talent acquisition, technology, infrastructure, and to expand its service offerings, thereby solidifying its position as a leading platform in the industry.
Industry Context
This move is part of a broader trend where accounting firms are partnering with private equity firms to drive growth and innovation. Notably, in 2021, EisnerAmper initiated this trend by securing an investment from TowerBrook Capital Partners. Subsequently, other firms such as Citrin Cooperman, Cherry Bekaert, and Baker Tilly have also entered into private equity deals.
Implications for the Profession
The partnership between Grant Thornton and New Mountain Capital is expected to reshape the accounting industry landscape by enabling Grant Thornton to make targeted investments that enhance client service and operational efficiency. This strategic alliance underscores the growing convergence between professional services firms and private equity investors, aiming to drive innovation and growth within the sector.
📢MYCPE ONE Insights has a newsletter on LinkedIn as well! If you want the sharpest analysis of all accounting and finance news without the jargon, Insights is the place to be! Click Here to Join
Earn CPE Credits by Simply Reading Articles – Starting at Just $199/Year!
Continuing education is usually boring and just for compliance, but what if reading engaging articles could earn your team CPE credits? Sounds amazing, right? The answer is YES! We don’t just create boring tax, accounting, and audit content—our platform offers engaging, insightful, and trending material that your team will actually enjoy while earning CPE credits. Starting at just $199 per year per user
$199/Year for Team of CPA & Accounting firms. (Click here)
$199/Year for Team of Enterprises and Government Companies. (Click here)
$199/Year for Individual Subscription. (Click here)
Experience MYCPE ONE at its best! Upgrade your browser for a more interactive, user-friendly interface, and stay ahead in your professional development journey.
