---
title: "Private Equity Giants CVC and KKR Mull Bids for Grant Thornton UK"
publisher: "Stockmark.IT"
author: "Stockmark.IT Website"
published: "2024-08-19T06:00:29+00:00"
modified: "2024-08-18T16:15:54+00:00"
date: 2024-08-19
canonical: "https://stockmark.it/private-equity-giants-cvc-and-kkr-mull-bids-for-grant-thornton-uk/"
category: "Banking"
categories: ["Banking"]
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format: "news"
language: "en-GB"
---

# Private Equity Giants CVC and KKR Mull Bids for Grant Thornton UK

**Published:** August 19, 2024
**Author:** Stockmark.IT Website
**Categories:** Banking
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The UK arm of Grant Thornton, which is Britain’s sixth-largest accountancy firm, has attracted interest from major private equity firms CVC and KKR. Sources indicate that CVC, known for owning the La Liga football league, is considering a bid for Grant Thornton UK. KKR, a prominent US buyout firm, has also shown interest, though their level of involvement is not fully clear at this time.

Grant Thornton is being advised by Rothschild bank and has been actively reaching out to potential buyers to assess interest in acquiring a stake in the company. A formal sale process is expected to begin within the next month. The UK division employs around 5,500 people and reported revenues of approximately £654 million last year, marking a 7% increase from the previous year. Analysts suggest that a potential deal could value Grant Thornton at about £1.5 billion, based on historical profit multiples and insights from private equity sources.

However, regulatory requirements stipulate that audit firms must be majority-owned by qualified accountants, which may require the separation of Grant Thornton’s auditing division in the event of a takeover. Despite this, audit partners are likely to retain financial interests in the non-audit segments of the business.

The trend of private equity firms exploring stake sales in professional services firms is gaining traction. For instance, in March, Grant Thornton’s American counterpart sold a majority stake to New Mountain Capital, and the UK firm is also contemplating a merger with its US affiliate. Both CVC and KKR have experience in acquiring service-based businesses, with CVC having taken a majority share in Teneo and KKR increasing its stake in FGS Global.

While private equity firms have historically been hesitant to invest in the professional services sector due to the absence of physical assets, they are increasingly recognizing the growth potential in acquiring and consolidating smaller firms. This influx of external capital is welcomed by professional services partnerships, as it allows for business investments without relying solely on year-end payouts. As the sale process progresses, the future ownership structure of Grant Thornton UK remains uncertain, which could significantly impact the British accountancy landscape and the broader professional services industry.

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