Grant Thornton US Adds Three Sister Firms to Multinational Platform

Mergers and Acquisitions | May 1, 2025

Grant Thornton US Adds Three Sister Firms to Multinational Platform

Grant Thornton firms in the United Arab Emirates, Luxembourg, and the Cayman Islands are expected to be merged into a platform the U.S. business created when it acquired Grant Thornton Ireland last year.

Jason Bramwell

Top 10 accounting firm Grant Thornton US has agreements in place to bring its sister firms in the United Arab Emirates, Luxembourg, and the Cayman Islands into a multinational platform the U.S. business created when it acquired Grant Thornton Ireland late last year.

In what the Financial Times called a “private equity-driven acquisition spree that will dramatically reshape the accounting firm’s global network,” the five Grant Thornton firms are planning to offer broader capabilities to a growing client base and further enhance the talent and quality of their unified advisory and tax services. The combination also strengthens their independent audit and assurance practices, the U.S. firm said in an April 23 media release. In addition, the move boosts the firms’ expertise in major growth industries, including banking, asset management, insurance, and energy.

“This move enhances the Grant Thornton experience for our clients and our people,” Dara Keogh, managing partner of Grant Thornton in the Caymen Islands, said in a statement. “Today’s top international asset management and insurance companies expect their service providers to be more aligned to their businesses. Being part of a larger platform provides us with multinational resources and know-how that are unique among our peers.”

The expansion would create a team of more than 13,000 professionals across more than 50 offices in the U.S., Ireland, UAE, Luxembourg, the Cayman Islands, and other territories.

“This marks an exciting new chapter for Grant Thornton UAE—unlocking greater expertise, technology, and insights to deliver even more value to our clients and accelerate growth in the UAE and beyond,” Hisham Farouk, CEO of Grant Thornton UAE, said in a statement.

Ralph Bourgnon, a partner, board, and management committee member at Grant Thornton Luxembourg, added, “Today marks a pivotal milestone for Grant Thornton Luxembourg. It not only fuels our momentum and gives our professionals unique and exciting opportunities, it also bolsters our technology resources, access to solutions for the local market and across many regions, and expertise spanning financial hubs.”

The five-firm platform would continue to be part of the Grant Thornton International Ltd. network, which comprises member firms in more than 150 markets worldwide. The Grant Thornton global network of accounting firms pulled in a record $8 billion in revenue during its most recent financial year that ended Sept. 30, 2024.

The transactions are pending regulatory approvals and other standard closing conditions, Grant Thornton US said.

As the Financial Times noted today, Grant Thornton US set international consolidation as a priority after selling a majority stake to a consortium led by private equity firm New Mountain Capital in a deal that closed at the end of last May.

Grant Thornton now operates in an alternative practice structure: Grant Thornton LLP, a licensed CPA firm, provides attest services, and Grant Thornton Advisors LLC provides business advisory and non-attest services.

Grant Thornton firms that are added to the multinational network will become equity holders in a newly formed holding company, Grant Thornton Global Advisors, alongside U.S. partners, New Mountain Capital, and the partners of acquired member firms, the Financial Times reported.

“This platform is unlike any other in the accounting and consulting industry—delivering a singular experience and exceptional quality,” Andre Moura, managing director of New Mountain Capital, said in a statement. “We look forward to supporting Grant Thornton Advisors in bringing together additional service providers in our united, global structure.”

The U.S. firm is reportedly in advanced negotiations to acquire its sister firm in the Netherlands and has had talks at various stages with several other territories, according to the Financial Times.

Jim Peko

Jim Peko, CEO of Grant Thornton Advisors, will continue to lead the platform, and existing leadership in the newly added firms will lead their individual geographies.

Peko, who previously was chief operating officer of Grant Thornton Advisors, was appointed CEO in January after Seth Siegel stepped down from the role.

“Scaling our offerings and footprint underscores our focus on advancing a combined platform, with multinational experience and exemplary quality,” Peko said in a statement. “In a fast-moving business environment, clients need trusted advisors that deliver high-quality and innovative solutions across dynamic high-growth sectors and geographies. Our focus is on creating a world-class client experience.”

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