Grant Thornton’s US arm, backed by New Mountain Capital, disclosed plans to acquire its Australian sister firm, a $282 million revenue partnership that represents roughly 3% of the global network. The Australian board has recommended the deal, pending a partner vote this summer. The move continues a trans‑Atlantic scramble between the US and UK arms to consolidate the seventh‑largest accounting network.

The acquisition would add nearly 200 partners and lift the combined firm to about $4.5 billion in revenues, employing roughly 26,500 staff worldwide. Recent purchases in France, Spain, the UAE and Germany show the US side’s aggressive expansion, while the UK‑controlled Grant Thornton UK has been buying sister firms under Cinven. Both factions aim to build scale for multinational client pitches and cost efficiencies.

Chief executives Jim Peko and Jahani framed the deal as a “growth lever,” promising greater access to emerging‑technology capabilities and growth capital for Australian clients. By folding the firm into a larger, private‑equity‑backed platform, Grant Thornton hopes to sharpen its competitive edge against the Big Four. The transaction will create the most sizable global Grant Thornton network to date.