New Mountain Capital, a growth-oriented private investment firm with approximately $50bn in assets under management, has closed a ‘significant’ growth investment in Grant Thornton, a US provider of audit, assurance, tax and advisory services.
CDPQ and OA Private Capital made minority investments in Grant Thornton alongside New Mountain Capital in a deal that is aimed at accelerating the firm’s business strategy, according to a press statement.
Grant Thornton Advisors provides business advisory and non-attest services while Grant Thornton, a licensed CPA firm, provides attest services. Grant Thornton remains part of the Grant Thornton International Limited network of member firms, providing global reach to its clients.
Guggenheim Securities, Jefferies, Simpson Thacher & Bartlett and Hunton Andrews Kurth advised New Mountain Capital. Jones Day advised CDPQ and Gibson, Dunn & Crutcher advised OA Private Capital. Deutsche Bank Securities, Dechert and Vedder Price advised Grant Thornton, while Mayer Brown advised Grant Thornton’s partnership board.
Source: Private Equity Wire
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