Veritas Capital portfolio company Guidehouse has signed an agreement to acquire Grant Thornton LLP’s Public Sector Advisory practice in a move that bolsters Guidehouse’s government footprint and capabilities.
“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.”
The transaction adds professionals in Washington, D.C., and other U.S. cities to Guidehouse experienced in providing governments of all levels with solutions in areas including finance, human capital management, IT, data analytics and performance management.
Grant Thornton CEO Seth Siegel said the divestiture of the firm’s Public Sector Advisory “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.”
Veritas CEO and Managing Partner Ramzi Musallam said Grant Thornton’s Public Sector Advisory has a strong track record of growth, being a valuable partner to address its clients’ critical needs.
“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,” he added.
The transaction is slated 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 adviser to Grant Thornton. Morrison & Foerster LLP and Akerman LLP are acting as legal counsel.
