The Brief:
Grant Thornton Australia is set to join the Grant Thornton Advisors multinational platform in a deal valuing the firm at more than $800m
Gilbert + Tobin advises the buyer; Allens acts for Grant Thornton Australia.
Private equity’s appetite for professional services isn’t slowing down — and Grant Thornton Australia is the latest proof.
The private equity-backed US accounting group has agreed to bring its Australian sister firm onto its multinational platform. The deal values the GT Australia at more than $800m — the largest private equity investment into Australia’s accounting sector.
The deal
Under the deal, Grant Thornton Australia joins Grant Thornton Advisors — majority owned by New York-headquartered private equity and credit investor New Mountain Capital.
The platform spans nearly 20 aligned firms across the Americas, Europe, the Middle East and Asia Pacific. Combined, the group will have 26,500 staff and roughly $4.5bn in revenues.
If partners vote yes, Grant Thornton Australia’s nearly 200 partners will pocket an average of more than $4m each in cash and equity.
The deal reflects a broader shift of private equity into professional services. Allegro Funds acquired Scyne Advisory, the public sector consultancy spun off from PwC, two years ago. And in law, US firms like McDermott Will & Schulte are exploring PE-backed structures.
The transaction is expected to close in the second half of 2026, subject to regulatory approvals and partner sign-off.
Who’s acting
Gilbert + Tobin advised Grant Thornton Advisors, with partners Peter Cook and Karen Evans-Cullen leading the team. Simpson Thacher & Bartlett served as US counsel to Grant Thornton Advisors.
On the other side, Allens advised Grant Thornton Australia, led by partners Tom Story and Kylie Brown. Maddocks also acted for the Australian firm.
What they said
Grant Thornton Australia CEO Said Jahani said the transaction was “about seizing the right growth lever”, adding it would give his firm accelerated access to emerging tech capabilities and growth capital.
The G+T team said the deal “reflects strong momentum in private equity investment across professional services” and would “accelerate the growth of the Grant Thornton Advisors platform in the Asia Pacific region.”
Source: Grant Thornton, AFR, Gilbert + Tobin