Grant Thornton UK LLP, a prominent business and financial advisory firm, has secured a strategic investment from the international private equity firm Cinven. This partnership aims to accelerate Grant Thornton's growth by providing additional capital and resources while maintaining its partnership structure and ethos.

The firm has experienced significant growth in recent years, with offices in Leicester and Nottingham. In 2023, Grant Thornton achieved record revenues of £654 million and anticipates surpassing this figure in 2024. With Cinven's support, the firm aims to reach £1 billion in revenue in the coming years.

After a thorough review of strategic options, Grant Thornton's partners unanimously chose to partner with Cinven, citing a shared vision for future success and compatible cultures. Cinven, one of Europe’s largest private equity firms, has over 40 years of investment experience and has raised approximately €50 billion in funds.

Malcolm Gomersall, CEO of Grant Thornton UK LLP, expressed pride in the firm’s resilience through significant macroeconomic challenges. He emphasized the importance of external investment in accelerating growth while preserving the firm's partnership structure and commitment to high-quality service.

Maxim Crewe, Partner and Head of Cinven’s Financial Services Sector team, highlighted Grant Thornton’s strong reputation, culture, and financial performance as key factors in the partnership. He noted the potential to enhance service quality and develop high-performance teams through this investment.

Additionally, Grant Thornton plans to introduce an Employee Benefit Trust for many employees below the Partner level, allowing them to share in the firm's long-term growth through cash and equity rewards. The partners have also committed to reserving a significant amount of equity for future partners during the investment period, ensuring the protection of the next generation of leadership.

The terms of the transaction between Grant Thornton and Cinven remain confidential, but it is expected to finalize by the end of Q1 2025, pending regulatory approval and other standard conditions.