Grant Thornton US to acquire M&A consultancy Stax

Grant Thornton Advisors LLC, the advisory services business of Grant Thornton US, has agreed to acquire Stax, a Boston-based mergers and acquisitions (M&A) consulting firm.

Founded in 1994, Stax specializes in commercial due diligence, value creation, and exit planning services for private equity (PE) firms and other investors. The firm has approximately 300 employees across the US, UK, and Sri Lanka.

Stax works with many of the leading firms in large-cap and mid-market PE, alternative investments, and investment banking.

The acquisition, which is slated to close later this year, will strengthen Grant Thornton Advisors’ commercial diligence offerings. The practice currently has 600+ PE relationships, including 60% of the top 10 global PE firms by total equity.

Following completion of the transaction, the combined practice will serve nearly 70% of US-based firms in the Private Equity International 300.

“With this bold move, we’re taking our platform to new heights — combining Stax’s top-tier talent with our own industry-leading professionals, while broadening our offerings and further elevating our tech capabilities,” said Jim Peko, CEO of Grant Thornton Advisors.

The move continues Grant Thornton US’ PE-backed growth in 2025.

New Mountain Capital in May 2024 acquired a majority stake in Grant Thornton US.

So far in 2025, the New York-based private equity firm has bolted on the Grant Thornton member firms for Ireland, the UAE, Luxembourg, Cayman Islands, Netherlands, Switzerland/Liechtenstein, and the Channel Islands.

Last month, Grant Thornton US announced the addition of Auxis, a Fort Lauderdale, FL-based business process outsourcing (BPO) firm with a team of 1,400 people mostly located in Latin America.

Grant Thornton US, which operates in an alternative practice structure that separates its audit and advisory businesses, currently has approximately 13,000 people across the Americas and EMEA regions.

Jayson Traxler, CEO of Stax, said, “We are proud to have built a 30-year reputation for excellent client service, unique tech-enabled solutions, and impressive growth. As part of Grant Thornton Advisors, those characteristics will endure — but with far greater scale, speed, and amplification of our impact.”

Clearsight Advisors and Harris Williams served as financial advisors to Grant Thornton, while William Blair served as financial advisor and Stout served as sell-side financial diligence and tax advisor to Stax.

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