August 22, 2022
Veritas Capital-backed Guidehouse to Acquire Grant Thornton LLP’s Public Sector Advisory Practice
Transaction expected to strengthen Guidehouse’s public-sector footprint and capabilities as the next-generation consultancy continues its accelerated growth
Strategic divestiture advances Grant Thornton’s growth strategy and focus on its integrated Audit, Tax and Advisory offerings; firm well-positioned in professional-services market with deep know-how, best-in-class client service and capital position
WASHINGTON & CHICAGO--(BUSINESS WIRE)--Guidehouse and Grant Thornton LLP (Grant Thornton) 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, Chief Executive Officer 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.
About Guidehouse Inc.
Guidehouse is a leading global provider of consulting services to the public sector and commercial markets, with broad capabilities in management, technology, and risk consulting. By combining our public and private sector expertise, we help clients address their most complex challenges and navigate significant regulatory pressures focusing on transformational change, business resiliency, and technology-driven innovation. Across a range of advisory, consulting, outsourcing, and digital services, we create scalable, innovative solutions that help our clients outwit complexity and position them for future growth and success. The company has more than 13,000 professionals in over 50 locations globally. Guidehouse is a Veritas Capital portfolio company, led by seasoned professionals with proven and diverse expertise in traditional and emerging technologies, markets, and agenda-setting issues driving national and global economies. For more information, please visit guidehouse.com.
About Veritas Capital
Veritas is a longstanding technology investor with a focus on companies operating at the intersection of technology and government. The firm invests in companies that provide critical products, software, and services, primarily technology and technology-enabled solutions, to government and commercial customers worldwide. Veritas seeks to create value by strategically transforming the companies in which it invests through organic and inorganic means.
Leveraging technology to make a positive impact across vitally important areas, such as healthcare, education, and national security, is core to Veritas. We are proud stewards of national assets, improving the quality of healthcare while reducing cost, advancing our educational system, and protecting our nation and allies. For more information, visit www.veritascapital.com.
About Grant Thornton Public Sector Advisory
Grant Thornton Public Sector Advisory helps executives and managers at all levels of government maximize their performance and efficiency in the face of limited resources and increased demand for services. Grant Thornton Public Sector Advisory’s commitment to public sector success is burnished by a widely recognized body of thought leadership analyzing and recommending solutions to government’s greatest challenges. Based in the Washington, D.C., metropolitan area and with a presence in more than 35 cities around the country, Grant Thornton Public Sector Advisory serves federal, state and local governments.
About Grant Thornton LLP
Grant Thornton LLP (Grant Thornton) is one of America’s largest audit, tax and advisory firms — and the U.S. member firm of the Grant Thornton International Ltd global network. We go beyond the expected to make business more personal and build trust into every result. With revenues of $1.97 billion for the fiscal year ended July 31, 2021 and 51 offices nationwide, Grant Thornton is a community of more than 9,000 problem solvers who value relationships and are ready to help organizations of all sizes and industries create more confident futures. Because, for us, how we serve matters as much as what we do.
“Grant Thornton” refers to Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd (GTIL). GTIL and the member firms are not a worldwide partnership. Services are delivered by the member firms. GTIL and its member firms are not agents of, and do not obligate, one another and are not liable for one another’s acts or omissions.
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