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Swedish global investment firm EQT has reportedly joined the race to acquire a large stake in the UK arm of accountancy firm Grant Thornton, according to Sky News.
The outlet reported that EQT submitted a bid to Grant Thornton’s advisers ahead of the auction deadline last week. It is thought that any deal would be valued between £1bn-£2bn.
It comes following reports earlier this summer that CVC Capital Partners, the private equity backer of Six Nations Rugby, reportedly held discussions with the firm over acquiring UK and Irish affiliates.
Since then a number of potential suitors have been cited, including Carlyle, Cinven, Permira and Nordic Capital.
CVC owns advisory firm Teneo which acquired Deloitte UK’s Restructuring Services division back in 2021.
A spokesperson for Grant Thornton UK LLP told Accountancy Today at the time: “As all businesses do, we continually evaluate the external business and economic landscape and explore various avenues that will drive growth for our firm.
“This enables us to make informed decisions about what’s best for our people, our clients and our firm. We are not actively engaged in any such transaction. We are committed to remaining as a multi-disciplinary firm. We will not be commenting further on this matter.”
