What's Happening?
Grant Thornton New Zealand has joined Grant Thornton Advisors, a private-equity-backed multinational advisory platform. This move is part of a broader strategy by New Mountain Capital, which acquired Grant Thornton US
in March 2024, to expand its consulting services globally. The acquisition strategy involves separating audit and consulting businesses, with non-attest services such as consulting and tax joining Grant Thornton Advisors LLC. The audit businesses remain separate under Grant Thornton LLP. The addition of Grant Thornton New Zealand, which has over 300 professionals and $40 million in annual revenue, extends the platform's reach into the Asia-Pacific region. This expansion follows the inclusion of other Grant Thornton member firms from countries like France, Spain, and the UAE, as well as firms like Stax and Auxis.
Why It's Important?
The integration of Grant Thornton New Zealand into Grant Thornton Advisors signifies a strategic expansion into the Asia-Pacific region, enhancing the firm's global footprint. This move is crucial for businesses seeking comprehensive solutions, deeper expertise, and global connectivity. By joining a larger multinational platform, Grant Thornton New Zealand can leverage world-class technology, insights, and capital to support client growth both locally and internationally. This expansion reflects the growing trend of private equity firms investing in consulting services to create integrated, borderless platforms that deliver exceptional outcomes across various industries and geographies.
What's Next?
The deal is expected to close later this year, marking a significant milestone in Grant Thornton Advisors' expansion strategy. As the market evolves, businesses will likely seek smarter solutions and global connectivity, which Grant Thornton Advisors aims to provide. The integration of Grant Thornton New Zealand is anticipated to enhance the firm's ability to deliver world-class services and support client growth with confidence. Stakeholders, including clients and industry partners, may respond positively to the increased capabilities and geographical reach offered by the expanded platform.
Beyond the Headlines
The expansion of Grant Thornton Advisors into the Asia-Pacific region through the inclusion of Grant Thornton New Zealand highlights the increasing importance of global connectivity in the consulting industry. This move may prompt other firms to consider similar strategies to enhance their competitive edge. Additionally, the separation of audit and consulting services reflects a broader industry trend towards specialization and compliance with regulatory requirements, ensuring transparency and trust in advisory services.
