DLA Piper advises Grant Thornton on majority investment by Cinven

DLA Piper is advising Grant Thornton UK LLP, one of the UK's leading diversified professional services firms, on the majority investment in the firm by International private equity firm, Cinven.

Grant Thornton is one of the oldest professional services firms in the UK, dating back to 1904, and today is one of the UK’s largest accounting and advisory services firms, offering audit, tax and advisory services. Led by over 240 partners and with more than 5,500 employees across over 20 offices in the UK, the firm serves a wide and diverse client base focused on medium and large corporates, government organisations and individuals.

The investment was approved by the Grant Thornton UK partnership on 12 December with closing of the transaction expected to occur toward the end of Q1 2025. The partners will remain invested in the business as a significant shareholder alongside Cinven.

The investment will see Grant Thornton benefit from Cinven's deep expertise in Financial and Business Services and help enhance the firm's commitment to audit quality and investment in high-performing teams. It also underlines Cinven's strong conviction in the firm's leading platform and prospects for sustained growth.

The DLA Piper team was led by Corporate partner Chris Arnold and supported by a core team made up of partner Phil Allenby and Senior Associates Isabella Gee and Harry Eastgate.

DLA Piper Corporate partner, Chris Arnold, commented "This is an exciting deal for Grant Thornton and one that will undoubtably set the scene for similar deals in the professional services industry in the future. Cinven is a great partner for the firm. With Grant Thornton’s strong brand, broad product offering and blue-chip customer base, combined with Cinven's experience, financial strength and shared values, we look forward to seeing the firm accelerate into its next stage of growth. We have truly enjoyed working with the Grant Thornton team on the ground-breaking transaction."

Malcolm Gomersall, CEO of Grant Thornton UK LLP, commented: “The story of our growth journey over recent years has been remarkable. We’ve weathered some of the most significant macroeconomic events in history and we’ve come out of them even stronger, both financially and culturally. The dynamics of our sector, both here in the UK and internationally, have also changed dramatically over recent years. We’re incredibly proud of the firm we are today, and we’re ready to write the next chapter in our story. We recognise the opportunity that external investment can offer to help us further accelerate our growth, whilst retaining our partnership structure and ethos, and provide an outstanding experience for our people and clients. We’re therefore looking forward to partnering with Cinven, and thank the team at DLA Piper for their ongoing support during this transaction.”