M&A Deal Summary

New Mountain Capital Acquires Grant Thornton

On March 15, 2024, private equity firm New Mountain Capital acquired business services company Grant Thornton

Acquisition Highlights
  • This is New Mountain Capital’s 11th transaction in the Business Services sector.
  • This is New Mountain Capital’s 88th transaction in the United States.
  • This is New Mountain Capital’s 6th transaction in Illinois.

M&A Deal Summary

Date 2024-03-15
Target Grant Thornton
Sector Business Services
Buyer(s) New Mountain Capital
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Deutsche Bank Corporate & Investment Banking (Financial)
Dechert
Vedder Price
Mayer Brown (Legal)

Target

Grant Thornton

Chicago, Illinois, United States
Grant Thornton is an accounting, tax and management-consulting firm focused on mid-sized US-based businesses. Grant Thornton was founded in 1924 and is based in Chicago, Illinois.

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Buyer(S) 1

Buyer

New Mountain Capital

New York, New York, United States

Category Private Equity Firm
Founded 1999
PE ASSETS 55.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

New Mountain Capital is a private investment firm focused on investment in public and private companies in a variety of industries. New Mountain generally invests $100 to $500 million per transaction and looks for businesses with strong market positions and high barriers to entry. New Mountain also prefers businesses that succeed in both good and bad economies. Sectors of interest include education, healthcare, business services, federal IT services, media, software, consumer products, logistics, financial services and technologies, and energy. New Mountain Capital was formed in 1999 and is based in New York, New York.


DEAL STATS #
Overall 92 of 103
Sector: Business Services M&A 11 of 13
Type: Buyout (LBO, MBO, MBI) M&A Deals 15 of 16
State: Illinois M&A 6 of 8
Country: United States M&A 88 of 98
Year: 2024 M&A 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-01 Accolite Digital

Addison, Texas, United States

Accolite Digital is a provider of cloud and digital product engineering services across the banking and financial services, technology, healthcare, communications and media, and logistics industries. Accolite helps its customers successfully navigate their digital transformation journeys by providing digital product engineering, cloud services, data engineering, DevOps, customer experience, and design services. Accolite Digital was founded in 2007 and is based in Addison, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-25 ILC Dover

Frederica, Delaware, United States

ILC Dover provides high-performance flexible materials for complex government and commercial applications, including bio-pharmaceutical and personal hazmat protection, infrastructure protection, inflatable applications, lighter-than-air airships, and pressurized spacesuits. ILC Dover has manufacturing locations in Delaware, Texas, and Switzerland.

Sell $2.3B