Grant Thornton Ireland and Grant Thornton US have completed the merger of their advisory and tax businesses, in a deal backed by New York private equity firm New Mountain Capital.
Grant Thornton Ireland’s audit business will continue as an independent partnership and operate under an alternative practice structure.
The Irish business has a total of about 2,800 staff, including partners. It will make up about a 12 per cent stake in the combined entity.
The deal was announced in October. Grant Thornton Ireland’s 45 equity partners were on track to receive €6.5 million each under a cash-and-shares-based tie-up, the Sunday Times subsequently reported.
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The report put a €480 million value on the deal, of which 60 per cent will comprise cash payments to the Irish equity partners. Grant Thornton Ireland has over 25 salaried partners. They have also received significant cash proceeds and rolled over equity, according to sources close to the firm.
The Irish firm, which generated about €300 million of revenues in 2024, is the fifth-largest part of the global Grant Thornton network. The US firm is the largest, with its latest reported annual fees amounting to $2.4 billion (€2.2 billion).
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