Guidehouse and Grant Thornton LLP recently announced they have come to a definitive agreement under which the Veritas Capital-backed Guidehouse will acquire Grant Thornton’s Public Sector Advisory Practice.
The purchase will add Grant Thornton’s team of professionals in Washington, D.C. and other U.S. cities to the company’s public sector practice, incorporating in the firm’s deep experience in providing federal, state, and local governments with solutions in areas such as human capital management, information technology, finance, performance management, and data analytics. The firm’s Former Government Executives Council brings together seasoned executives who have served in government to provide decades of experience in solving critical financial, organizational, IT, and operational challenges.
“Grant Thornton continues to accelerate its growth by delivering the highest quality solutions and a peerless experience to our clients,” said Seth Siegel, Chief Executive Officer at Grant Thornton. “The divestiture of our Public Sector Advisory practice is well aligned with our strategy and will enhance our value to clients by sharpening the firm’s focus on our integrated offerings across Audit, Tax, and Advisory services, where we see significant growth opportunities. Additionally, we will further enhance our capital position, strengthen the firm’s quality-focused market position, and create compelling opportunities for our colleagues.”
Guidehouse Chief Executive Officer Scott McIntyre stated that the transaction comes as part of the company’s strategy to expand its expertise and capabilities in support of clients’ most pressing challenges, anticipating opportunities for both significant business growth for the company and professional advancement for staff. The move is the latest Guidehouse acquisition following its purchase of Dovel and subsequent launch of Guidehouse Digital, bringing market leading domain expertise in health, human services, and public safety at the intersection of science and technology to the company’s portfolio.
The transaction is projected to close in the second half of 2022. Financial terms of the transaction were not publicly disclosed. Milbank LLP and Covington & Burling LLP are acting as legal counsel to Guidehouse and Veritas Capital. Deutsche Bank Securities is acting as exclusive financial advisor to Grant Thornton, and Morrison & Foerster LLP and Akerman LLP are acting as legal counsel.