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Grant Thornton

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business27 days ago•3 min saved

Grant Thornton to buy CBIZ for $5bn, reshaping US mid-market accounting

Grant Thornton will acquire CBIZ for $5 billion in cash, valuing CBIZ at an enterprise value of $5bn and paying $55 per share, in the largest accounting-sector takeover in a generation. The deal creates a US revenue base exceeding $5bn and positions the combined firm as the largest audit and consulting group in the US outside the Big Four, with New Mountain Capital planning to spin off CBIZ’s non-accounting businesses after closing. The consolidation underscores ongoing private-equity–driven changes in the mid-market accounting sector.

via Financial Times|

#business #cbiz #grant-thornton

financeaccounting2 years ago•1 min saved

"Grant Thornton's Strategic Move: Private Equity Investment from New Mountain Capital"

The recent news of New Mountain Capital acquiring a majority stake in Grant Thornton has sparked a discussion about the impact of private equity in the accounting profession. This trend is relatively new, and opinions on its effects vary widely. While some see potential benefits, others express concerns about the influence of private equity in the industry. The buzz around this deal has prompted a weekend discussion on the topic, inviting perspectives and insights from all angles, including senior partners who may be affected by the growing presence of private equity in accounting firms.

via Going Concern|

#accounting-profession #financeaccounting #financial-investments

business2 years ago•4 min saved

"Grant Thornton's Strategic Acceleration: Private Equity Investment and CPA Pipeline Development"

Grant Thornton LLP has announced a significant growth investment from New Mountain Capital, aiming to accelerate its business strategy and solidify its position as the industry's platform of choice. The investment will provide Grant Thornton with greater scale, resources, and agility, allowing for targeted investments in talent, technology, and infrastructure. The partnership is expected to enhance the firm's value proposition and service offerings while maintaining a focus on quality and client experience.

via Grant Thornton|

#business #business-strategy #grant-thornton