Products Professional services Number of employees 7,281 | Website www.grantthornton.com Founded 1924 | |
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Type Limited Liability Partnership Industry Accounting
Tax
Business Advisory Services Key people J. Michael McGuire, CEO; Billy Moore, CFO Revenue $1.45 billion USD (2015) Headquarters Chicago, Illinois, United States CEO J. Michael (Mike) McGuire (1 Jan 2015–) Parent organization Grant Thornton International Subsidiaries CCR LLP, ARRYVE LLC, Grant Thornton Corporate Finance, LLC Profiles | ||
Grant Thornton LLP is the American member firm of Grant Thornton International, the sixth largest accounting network in the world by combined fee income. Grant Thornton LLP is the sixth largest U.S. accounting and advisory organization. The firm operates 58 offices across the US with approximately 7,000 employees, 550 partners, and produces annual revenue in excess of US$1.45 billion.
Contents
Headquartered in Chicago, Grant Thornton LLP has three service lines: audit, tax, and advisory services. Specific advisory services and areas of expertise include: Sarbanes-Oxley compliance, mergers and acquisitions advice, tax, and business valuations. Target industries include construction, distribution, energy, financial services, food and beverage, health care, hospitality and restaurants, life sciences, manufacturing, not-for-profit organizations, private equity, public sector, real estate, retail, technology, and transportation.
Early History
In 1924, Alexander Richardson Grant, a 26 years old senior accountant with Ernst & Ernst (later Ernst & Young) decided to leave the firm and start his own business with William O’Brien. Alexander Grant & Co. was built in Chicago and dedicated to providing quality services for middle market. The firm was growing rapidly and nationally under the guidance of several new leaders during the next three decades.
In 1961, the company established its national office in Chicago and earned net revenue of more than $5 million. During this time, a competitive firm that was also committed to providing services to middle market established in Europe, and this firm later became known as Binder Dijke Otte & Co. (BDO).
During the mid-1960s, the firm decided to expand its business internationally. In 1969, Alexander Grant & Co. merged with companies from Australia, Canada and the United Kingdom to form an organization called Alexander Grant Tansley Witt.
By 1980, Alexander Grant & Co. had joined with 49 international accounting firms, including a UK firm named Thornton Baker, and formed a professional global network, Grant Thornton International.
In 1985, Alexander Grant & Co. merged with Fox & Co. and became the ninth largest accounting firm in the United States, just behind the nation’s “Big Eight” firms. At that time, the company had 80 offices and more than 3,000 employees.
In 1986, Alexander Grant & Co. changed its name to Grant Thornton, resulted from its affiliation with the United Kingdom firm Thornton Baker, which also changed its name to Grant Thornton.
Recent History
In 2002, Grant Thornton acquired 7 offices, 43 partners and 396 employees from ex-Arthur Anderson.
In June 2014, Grant Thornton announced that J. Michael McGuire as the firm’s new chief executive officer.
Today, Grant Thornton is the sixth largest accounting firm in the United States and has 58 offices nationwide with more than 550 partners and 7,000 employees. Its revenue for fiscal year 2015 is $1.45 billion.
Services
Grant Thornton offers three main service lines
Tax Desk
Tax desks is developed by Grant Thornton US and it connects other member firms in different countries to help client grow their business and solve their common problems in the global market. Grant Thornton US has established the desks between the United States and the UK, the United States and China, and the United States and Japan.