Allens has advised Grant Thornton Australia Limited (GTAL) on the transaction under which Grant Thornton Australia joined the Grant Thornton Advisers multinational platform of nearly 20 aligned firms across the Americas, Europe, the Middle East and the Asia-Pacific region, backed by an investor group led by New Mountain Capital.
The transaction was implemented by way of a scheme of arrangement under Part 5.1 of the Corporations Act 2001 (Cth), pursuant to which an indirectly wholly owned subsidiary of Turbo Parent Partnership LP (the entity which ultimately owns the Grant Thornton Advisers multinational platform) acquired 100% of the shares in GTAL.
'This was a significant transaction in the Australian professional services market, requiring a bespoke and complex transaction structure given that Grant Thornton Australia operated as an unlisted public company,' said partner Tom Story.
'We were pleased to support Grant Thornton Australia on this important transaction which supports the acceleration of its growth strategy, expanding its access to world‑class AI and technology capabilities while creating compelling career pathways for its next generation of partners and high‑performing professionals.'
