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Private equity group Cinven has agreed to acquire a majority stake in Grant Thornton Germany, subject to approval by the audit and advisory firm’s equity partners.
Grant Thornton Germany employs about 2,000 staff across 10 offices, serving clients from family-owned businesses to listed corporations and public institutions.
The news comes shortly after the private equity firm acquired a majority stake in the group’s UK business.
According to Cinven, the new partnership would provide growth capital and expertise to help Grant Thornton Germany expand its services, adopt new technologies such as digitalisation and artificial intelligence, and strengthen recruitment and retention.
Grant Thornton Germany will remain part of the Grant Thornton International network, which spans more than 150 markets.
Additionally, the firm’s equity partners will retain significant shareholdings, and the two sides will jointly oversee the next phase of growth.
Under the arrangement, Grant Thornton Germany and Grant Thornton UK are expected to increase collaboration, particularly in technology and cross-border client services.
Financial terms were not disclosed, and the deal remains subject to partner and regulatory approvals as well as other customary conditions.
Professor Heike Wieland-Blöse, chief executive of Grant Thornton Germany, said: “The partnership with Cinven gives us the opportunity to position Grant Thornton Germany in the best possible way for the future in a dynamic market environment.
“Cinven brings valuable expertise, resources and access that will help us expand our service offering for clients while enhancing our attractiveness for employees and future talent.”
Bruno Schick, co-managing partner at Cinven, and Maxim Crewe, partner and head of financial services, added: “With its broad client base and clear focus on the international upper mid-market, Grant Thornton Germany is already strongly positioned.
“We aim to support the management team and partners with our expertise and, via targeted investments, to harness the opportunities of digitalisation and new technologies for the benefit of their clients – ensuring Grant Thornton Germany remains a frontrunner in innovative audit and advisory services. Demand for high-quality audits in Germany continues to grow. Together we can help meet that demand.”
