PracticeConsultingGrant Thornton joins merger mania

Grant Thornton joins merger mania

Mid-tier firms Grant Thornton and HLB Kidsons have announced plans to merge.

The proposals, which have been agreed at management level, will now be put to the partners of both firms.

Today’s move makes the combined firm – which will keep the Grant Thornton name – sixth largest UK firm, but will boost its fee income to more than 230 million pounds. The new firm will also have around 375 partners post-merger.

David McDonnell, national managing partner of Grant Thornton, said the move had not been taken to create a competitor to the Big Five but it was aimed at building a firm of the size needed to compete in the owner-managed business market.

In a statement this afternoon, the firms gave their reasons for the merger as:

  • The opportunity to significantly enhance and expand the firms’ respective market leadership in their key sectors, including owner-managed entreprenuerial and SME business and certain specialist servbice markets;
  • The same compatible approach to client service and commitment to the provision of a wide range of business skills throught a single national organisation;
  • The strengthening of their regional networks to make high-value specialist services and resources more widely available throughout the new organisation;
  • The potential for growth in key regional locations.

The move follows the merger earlier this week of Fraser Russell and Baker Tilly.

Merger will create ‘middle tier star’

Accountancy Age Top 50

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