PracticeAccounting FirmsGT wins £5m war chest from RBS

GT wins £5m war chest from RBS

Grant Thornton seals the deal on extra financing from the Royal Bank of Scotland to support the firm's 'opportunistic' acquisition policy

Grant Thornton has been handed a £5m credit line by RBS so that it can move
quickly on acquisition targets.

RBS said in a statement: ‘RBS together with Barclays, have provided the firm
with a £5m acquisition finance line to support Grant Thornton UK’s strategy of
opportunistic but strategically aligned acquisitions to support their growth
aspirations.’

Recently, the mid tier firm made a successful swoop for Debt Matters’
Individual Voluntary Arrangements book.

Michael Hayman, Partner at Grant Thornton said: ‘The accountancy and business
advisory market remains active in the UK, and we want to be best placed to take
advantage of opportunities as and when they present themselves. This acquisition
line provides us with the flexibility to react quickly and purchase operations
that provide synergies to the business and additional revenue streams.’

Further reading:

Grant
Thornton looks to build on AIM domination

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