The Duff & Phelps Opinions Practice of Kroll Rendered a Fairness Opinion to the Partnership Board of Grant Thornton LLP

On March 15, 2024, Grant Thornton LLP (Grant Thornton), a leading provider of audit and assurance, tax and advisory services, announced it will receive a significant growth investment by New Mountain Capital, a leading growth-oriented investment firm.

The transaction is subject to regulatory approval and other standard closing conditions. Following the closing of the transaction, which is expected in the second calendar quarter of 2024, Grant Thornton will operate in an alternative practice structure: Grant Thornton LLP, a licensed CPA firm, will provide attest services, and Grant Thornton Advisors LLC will provide business advisory and non-attest services.

The Duff & Phelps Opinions Practice of Kroll rendered a fairness opinion to Grant Thornton’s Partnership Board in connection with the investment.

About 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. With revenues of $2.4 billion for the fiscal year that ended July 31, 2023, and almost 50 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.

Dechert LLP and Vedder Price P.C. are serving as legal advisers to Grant Thornton.

Mayer Brown LLP is acting as legal adviser to Grant Thornton’s Partnership Board.

About New Mountain Capital

New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, credit and net lease investment strategies with approximately $50 billion in assets under management. New Mountain Capital seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies.

Simpson Thacher & Bartlett LLP and Hunton Andrews Kurth LLP are serving as legal advisers to New Mountain Capital.