Permira

Today’s news in brief – 25/11/2024

BDO has achieved full-year revenues exceeding £1bn for the first time in its 100-year history. For the year ending July 2024, all business areas—Audit, Tax, and Advisory—experienced 8.6% growth despite economic uncertainty, with operating profits rising 15% to £227m. The firm credited its success to its core market of entrepreneurial…

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Three firms shortlisted for Grant Thornton stake

A trio of buyout firms has been shortlisted to acquire a stake in Grant Thornton according to reports from Sky News. Cinven, EQT and New Mountain Capital, the backer of Grant Thornton’s US business, have made the cut in a process that could value the UK firm at more than…

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FRC tells audit bosses to report private equity plans

FRC has asked audit bosses to tell the accounting regulator of any plans to sell stakes of their business to private equity.  In a letter addressed to audit firms and Recognised Supervisory Bodies (RSBs), FRC chief executive Richard Moriarty said the regulator is not “in principle against a greater participation…

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Today’s news in brief – 19/9/2024

Grant Thornton US has been shortlisted as a potential bidder for its UK arm, alongside EQT and Permira, aiming for a valuation up to £1.5bn. The auction process follows recent reports of EQT’s bid, with Permira also advancing in the process. Grant Thornton’s US business, which sold a majority stake…

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Grant Thornton US joins shortlist of bidders for UK arm

Grant Thornton’s US business has reportedly joined a shortlist of potential bidders for a stake in the firm’s UK arm, The Financial Times has reported.Grant Thornton’s private equity-owned US business joins Swedish global investment firm EQT in the next round of bidding, following last week’s reports that EQT had submitted…

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Permira considers £500m sale of Evelyn Partners accounting arm

Evelyn Partners’ private equity owner reportedly could be looking to split off its accounting arm in a £500m deal, according to The Sunday Times. The outlet revealed that Permira is considering making the move as investor interest in professional service firms continues to grow and has appointed investment bank Evercore…

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Today’s news in brief – 11/9/2024

Shaw Gibbs has acquired Sestini and Co, a tax consultancy for expatriates and high-net-worth individuals, enhancing its expertise in U.S. tax advisory. Sestini operates with one partner and 13 employees across two offices in Bristol and London. The merger will expand Shaw Gibbs’ services and result in a 380-strong team…

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Swedish Firm EQT joins bidders for Grant Thornton UK

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…

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Stone Point Capital consortium acquires Duff & Phelps for $4.2bn

Permira has sold Duff and Phelps to a global investor consortium led by funds managed by Stone Point Capital and Further Global in a $4.2bn (£3.2bn). The equity sellers including the Permira funds, which acquired the company in 2018 for $1.75bn (£1.3bn), will continue to hold a significant stake in…

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Private equity firms interested in £1bn Cogital deal

A selection of US-based private equity firms are interested in acquiring chartered accountancy firm Cogital in an estimated £1bn deal, according to reports. The Financial Times reported that BC Partners, Permira, PAI and Hellman & Friedman are all set to launch bids to acquire the firm, which was set up…

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