Grant Thornton today announced major expansion in Brazil through two M&A deals, reinforcing the firm's position as the number five accounting firm in that market.
Grant Thornton Brazil merged with former PKF firm Directa Auditores, adding 120 professionals and a portfolio of listed and middle market companies. In a separate second deal, Grant Thornton Brazil also acquired the outsourcing practice of KPMG Brazil, adding 70 staff, 60 clients and US$5.5 million in revenues. Grant Thornton is currently the third largest provider in the Brazil outsourcing market.
"We welcome both firms into the Grant Thornton family, joining more than 38,500 people in over 120 countries working together to help dynamic organisations unlock their potential for growth,” said Ed Nusbaum, Grant Thornton global CEO.
These deals follow on a very active year of M&A for Grant Thornton that saw expansion in Luxembourg, the Netherlands, the Eastern Caribbean, Canada, the UK, US, Japan, Italy, Paraguay, Ethiopia, South Africa, Indonesia, Switzerland, Taiwan, Senegal, Bangladesh, China and Hong Kong.