German business of Grant Thornton picks Cinven as strategic growth partner

Grant Thornton’s German business has entered into a strategic partnership with private equity firm Cinven, marking the start of its next phase of growth.

In Germany – as in many other markets – Grant Thornton is one of the country’s leading audit and advisory firms. The company employs around 2,000 people across ten offices, serving a diverse client base that includes family-owned businesses, listed corporations, and public institutions.

Following a strategic review launched in January this year, and after evaluating several bids, the firm’s partners selected Cinven as their preferred strategic partner. Several other private equity firms had expressed interest, and notably, Grant Thornton Advisors – a global group of Grant Thornton member firms backed by private equity – was also a strong contender.

“The partnership with Cinven gives us the opportunity to position Grant Thornton for long-term success in a dynamic market environment. Cinven brings valuable expertise, resources, and networks that will enable us to expand our service offering for clients while enhancing our attractiveness to employees and future talent,” said Heike Wieland-Blöse, CEO of Grant Thornton in Germany.

With Cinven’s financial backing, Grant Thornton aims to accelerate the adoption of advanced technologies such as digitalisation and artificial intelligence, expand into new growth areas, and strengthen its ability to attract and retain top talent.

Heike Wieland-Blöse

Financial details of the transaction were not disclosed. Grant Thornton was advised by Perella Weinberg Partners (M&A), Linklaters (Legal), and Deloitte (Financial). Cinven was advised by Freshfields (Legal), Oliver Wyman (Commercial), and Deloitte (Financial & Tax).

For Grant Thornton Advisors, the decision represents a setback. The platform has recently added several European member firms to its network – including those in Ireland, France, Spain, Belgium, the Netherlands, and Switzerland. However, with both the German and UK arms now partnering with Cinven, Grant Thornton Advisors lacks representation in Europe’s two largest economies.

Under Cinven’s joint ownership, Grant Thornton Germany and Grant Thornton UK are expected to deepen their collaboration, pursuing opportunities in technology investment and international client services.