Grant Thornton Partners Approve Cinven Investment

Grant Thornton UK LLP's partners have unanimously approved a significant investment from private equity firm Cinven, aiming to accelerate the firm's growth and enhance its services. The transaction, estimated to value Grant Thornton at up to £1.5 billion, is expected to close by the end of Q1 2025, pending regulatory approval. This strategic move comes after the firm achieved record revenues of £654 million in 2023, and aims to surpass £1 billion in the coming years with the help of external capital. Cinven's expertise in Financial and Business Services is expected to bolster Grant Thornton's investment in talent and technology while maintaining its partnership structure. The deal also includes provisions for an employee benefit trust to reward non-partner staff, reflecting the firm's commitment to long-term growth. This investment marks a significant shift in the professional services industry, highlighting the increasing reliance on external capital for growth.