KPMG LLP, the U.S. audit, tax and advisory firm, has expanded its restructuring capabilities through acquisition of the Supply Chain Advisory Services practice of Grant Thornton LLP, U.S. member firm of Grant Thornton International Ltd.
The acquisition strengthens KPMG's existing restructuring services practice in the automotive, pharmaceuticals, aerospace and defense and other manufacturing industries by expanding current capabilities in financial and operational restructuring, supply chain advisory, supplier services, technology and performance improvement. The transaction also includes Grant Thornton LLP's Vontik software system.
"As organizations continue to reinvigorate their focus on growth, they are facing unprecedented pressures to transform their finance and operations functions," says John Veihmeyer, chairman and chief executive officer of KPMG. "This acquisition will enhance KPMG's ability to help businesses address the four key drivers of business transformation: people, process, risk and control, and technology."
KPMG will take over existing Grant Thornton LLP projects at select Fortune 500 companies.
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