Grant Thornton (Cayman) LLP announced it has reached an agreement to unite with Grant Thornton Advisors LLC. Through the agreement, Grant Thornton Cayman will join the multinational platform that Grant Thornton Advisors initially created earlier this year with Grant Thornton Ireland.
The agreement creates a team of more than 13,000 professionals across more than 50 offices. The platform was established with the backing of an investor group led by New Mountain Capital, an investment firm with approximately $55 billion in assets under management.
The expanded platform will continue to be part of the Grant Thornton International Limited network, which comprises member firms in more than 150 markets worldwide.
With the addition of Grant Thornton Cayman, the platform can now offer broader capabilities to a growing client base and further enhance the talent and quality of its unified advisory and tax services. The combination also brings strength to its independent audit and assurance practices, the company said in a press release.
Additionally, this move bolsters its standing in one of the world’s most prominent international financial centers, with aggregated access and expertise in major growth industries including banking, asset management, insurance and energy.
The CEO of Grant Thornton Advisors, Jim Peko, will continue to lead the platform, and Dara Keogh will continue to lead his geography.
Along with the addition of Grant Thornton Cayman, Grant Thornton Luxembourg, and Grant Thornton UAE have also joined the unified organization through separate transactions with Grant Thornton Advisors.
The platform will continue to explore growth opportunities in additional service lines and regions where there is economic alignment, client consistency and industry-service intersection.
“Scaling our offerings and footprint by uniting with Grant Thornton Cayman underscores our focus on advancing a combined platform, with multinational experience and exemplary quality,” said Peko.
“In a fast-moving business environment, clients need trusted advisors that deliver high-quality and innovative solutions across dynamic high-growth sectors and geographies. Our focus is on creating a world-class client experience.”
Dara Keogh, managing partner, Grant Thornton Cayman, said: “This move enhances the Grant Thornton experience for our clients and our people. Today’s top international asset management and insurance companies expect their service providers to be more aligned to their businesses. Being part of a larger platform provides us with multinational resources and know-how that are unique among our peers.”
Andre Moura, managing director, New Mountain Capital, said “This platform is unlike any other in the accounting and consulting industry — delivering a singular experience and exceptional quality.”
The transaction is subject to regulatory approvals and other standard closing conditions.
