A former boss of the consultancy agency BCG is being drafted in to chair certainly one of Britain’s greatest auditors by its new non-public fairness backers.
His appointment will come practically 9 months after Grant Thornton’s UK companions voted to approve the sale of a majority stake within the agency to Cinven, the buyout agency.
The deal, which was understood to worth the accountancy agency at about £1.5bn, shaped a part of a rush of offers within the skilled companies sector.
Mr Quickenden has a powerful pedigree within the trade, and now additionally serves as chairman of Octopus Investments, a backer of myriad early-stage firms.
Grant Thornton UK sits slightly below the ranks of the large 4 audit companies, a gaggle comprising Deloitte, EY, KPMG and PricewaterhouseCoopers.
In its final monetary yr, Grant Thornton’s roughly 250 UK companions earned common pay packets of £682,000.
The agency audits quite a few FTSE-350 firms, whereas its restructuring division is the administrator to Greensill Capital, which is concerned within the liquidation of Sanjeev Gupta’s Speciality Steels UK.
A string of offers has taken place in latest months throughout the skilled companies sector, together with AlixPartners elevating new debt financing in an oversubscribed deal and MHA – the UK arm of Baker Tilly – floating on the London Inventory Change.
Cinven declined to touch upon Thursday.
