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July 19, 2010

KPMG US acquires Grant Thornton practice

KPMG US has acquired the supply chain advisory
services practice of Grant Thornton US.

The acquisition strengthens KPMG’s existing
restructuring services practice in the automotive, pharmaceuticals,
aerospace and defence, and other manufacturing industries.

It expands KPMG’s current capabilities in
financial and operational restructuring, supply chain advisory,
supplier services, and technology and performance improvement.

The acquisition also includes Grant Thornton’s
Vontik software system.

KPMG said 23 professional staff will join the
firm and it will also take over existing Grant Thornton projects at
select Fortune 500 companies.

KPMG US partner and head of restructuring Drew
Koecher said the acquisition was consistent with KPMG’s strategy to
build large-scale transformation capabilities.

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“Adding these tactical, operational
restructuring and supply chain skills to KPMG’s strategic market
position is a great fit at the right time,” Koecher added.

“With the addition of this group, we broaden
and deepen our client base and add to our already extensive
advisory capabilities to serve businesses as they transform their
business models to be successful in this new economy.”


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