Advisory
Grant Thornton is Selling its Public Sector Advisory Practice to Guidehouse
The transaction is expected to close in the second half of 2022. Financial terms of the transaction were not disclosed.
Aug. 22, 2022
Guidehouse and Grant Thornton LLP today announced they have signed a definitive agreement under which Guidehouse, a portfolio company of Veritas Capital, will acquire Grant Thornton’s Public Sector Advisory practice.
The transaction adds a talented roster of professionals in Washington, D.C., and other U.S. cities to Guidehouse. These professionals possess extensive experience providing federal, state and local governments with solutions in areas that include finance, human-capital management, information technology, data analytics, and performance management.
“We are excited to welcome our new colleagues to Guidehouse, building on the strength of our model, continued innovation, and driving the best outcomes for our clients,” said Scott McIntyre, CEO of Guidehouse. “This transaction aligns to our strategy to expand expertise and capabilities in support of our clients’ most pressing challenges. With this strategic combination, we anticipate experiencing opportunities for both significant growth and advancement for our colleagues.”
“Grant Thornton continues to accelerate its growth by delivering the highest quality solutions and a peerless experience to our clients,” said Seth Siegel, CEO 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.”
“This transaction is also a testament to the significant accomplishments and stellar reputation of our Public Sector Advisory practice,” Siegel continued. “Our Public Sector Advisory colleagues are well-positioned for continued success as part of a management consultancy with a very strong presence in the government sector―one that they know well and that will offer exciting opportunities for professional growth.”
“Grant Thornton’s Public Sector Advisory practice has a strong track record of growth, serving as a valuable partner to address the critical needs of its clients. This transaction creates a firm even better positioned to serve clients and drive lasting value for all stakeholders,” said Ramzi Musallam, CEO and managing partner of Veritas. “We are excited to continue to support the Guidehouse team as the firm welcomes the Grant Thornton Public Sector Advisory team, driving growth and delivering critical capabilities to clients together.”
The transaction is expected to close in the second half of 2022. Financial terms of the transaction were not 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.