Grant Thornton’s UK arm is considering a potential stake sale, people with knowledge of the matter said, at a time when an influx of investors is accelerating growth in the professional services sector.
Grant Thornton UK — which provides accounting, tax and advisory services — is working with advisers at Rothschild & Co. as it weighs strategic options, the people said. The possible stake sale could attract private equity firms and value the business at more than £2 billion ($2.6 billion), according to the people.
Grant Thornton’s Irish business has also been studying a similar move, the people said, asking not to be identified because the information is private. Deliberations are at an early stage, and there’s no certainty they will lead to a deal.
“As all businesses do, we continually evaluate the external business and economic landscape and explore various avenues that will drive growth for our firm,” a spokesperson for Grant Thornton UK said. “This enables us to make informed decisions about what’s best for our people, our clients and our firm.”
The spokesperson added that Grant Thornton UK is committed to remaining a multidisciplinary firm and isn’t “actively engaged” in a transaction. A representative for Rothschild declined to comment.
A spokesperson for Grant Thornton Ireland said it is “constantly exploring strategic options” given ongoing industry developments, but the business “is not for sale.”
The potential moves come after private equity firm New Mountain Capital took a significant stake in the US arm of Grant Thornton earlier this year for an undisclosed sum.
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