Equiteq advises GNC Group on their merger with Grant Thornton
Equiteq, a global consulting and IT services sector M&A specialist, is pleased to announce the merger of its client, GNC Group Consulting (“GNC Group”), with Grant Thornton Australia (“Grant Thornton”). The transaction completed on September 1, 2017.
GNC Group is a Melbourne-based retail and consumer product focused management consulting firm. Now in its eighth year of operation, the firm has a growing team of 55 and has opened offices in Sydney and Kuala Lumpur over the past two years. The merger represents the next stage of GNC Group’s growth strategy and expansion in Australia and South-East Asia, with GNC Group now forming a significant part of Grant Thornton’s Growth Advisory Practice.
GNC Group Partner, Nick Johnston says “We are thrilled to join forces with Grant Thornton and strongly believe this merger will accelerate the next phase of growth for us at GNC Group. Between the access to Grant Thornton’s back-office and shared services, their support and training capability and their high-quality talent pool, we will be well positioned to bring an even stronger offer to our clients. We will retain the GNC Group brand and our ways of working so it really is business-as-usual for our clients.”
The GNC Group management team feels strongly about cultural alignment with any expansion partner, with Nick Johnston reiterating “Right from the first meeting we felt there was a strong cultural fit between the two companies. We will have the advantages that come with being part of a well-respected global firm whose corporate values are closely aligned to our own. This will allow us to seamlessly integrate with their growth advisory team and bring our experience to Grant Thornton’s clients.”
Grant Thornton Australia CEO, Greg Keith, commented “We have a very clear plan to expand our growth advisory business and to provide our clients with even greater expertise and advice. GNC Group has deep experience advising some of the most successful retailers in the country and we’re looking forward to leveraging their capabilities.”
Pierre Briand, Equiteq’s Managing Partner for Australia and New Zealand says “The GNC Group deal is the perfect example of a well-managed consulting firm joining the advisory practice of a larger group to deliver a joint growth strategy. Equiteq was delighted to manage a full process from defining the shareholders’ objectives to completion of the transaction.”
The three Australian founders, Luke Ritchie, Jamie Downs, Nick Johnston, the chairman Ian McCall and the Malaysian partner Allard Sjollema jointly stated “Equiteq has been extremely valuable: we could rely on their professionalism from beginning to end with great outcomes for all parties.”
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