Granting you the serenity to know that your company's finances and operations are in order, Grant Thornton is the US member firm of Grant Thornton International, one of the largest global accountancy networks outside the Big Four (Deloitte Touche Tohmatsu, Ernst & Young, KPMG, and PricewaterhouseCoopers). It provides auditing, tax, and advisory services to public and private entities in industries ranging from manufacturing and distribution to technology and defense. Grant Thornton operates some 50 offices throughout the US. Founded under the Alexander Richardson name in 1924, the firm took its current name in 1986 when it merged with UK company Thornton Baker.
While Grant Thornton is headquartered in Chicago, the company has a global reach thanks to its Grant Thornton International Ltd. business. It operates International Business Centers, which pair local expertise with an international skill set. Grant Thornton boasts seven offices in the US -- in North Carolina, Illinois, Texas, California, Florida, and New York -- and nearly 35 internationally.
While Grant Thornton is one of the largest second-tier accounting firms in the US, the company still finds itself jockeying for such larger clients as Fortune 500 firms. Despite this, the company has consistently reported revenue growth, which is largely attributed to an expanding roster of international clients. Looking overseas for growth, in late 2011 Grant Thornton launched a Japan Business Group that serves Japanese inbound companies in the US. It also partnered with IASeminars, a UK-based independent global specialist that provides training in the US on International Financial Reporting Standards (IFRS).
Mergers and Acquisitions
In an effort to bulk up and retain its ranking among the top accountancy networks, Grant Thornton has been aggressively acquiring smaller companies (that are more easily funded). Acquisitions in 2011 included a large portion of LEGG Audit Tax, which added more than 270 professionals; the health solutions division of Computer Technology Associates; and most of the assets of New England accounting and advisory firm CCR. In 2010 the firm bought the disputes and investigations practice of Huron Consulting Group and assets of IT consulting firm Avalion. It formed a new practice group focusing on the aerospace and defense industry in 2009. To help fund the growth, Grant Thornton sold its supply chain advisory practice to KPMG in 2010. – less