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Grant Thornton acquires SRR

Grant Thornton has acquired US-based Stout Risius Ross (SRR), the restructuring and performance improvement group, for an undisclosed sum.

SRR is made up of three partners and its staff are based in Detroit and Chicago.

Nigel Ruddock, Grant Thornton UK LLP recovery and reorganisation partner, said: “This acquisition complements the existing expertise that Grant Thornton member firms already offer worldwide and takes it to a completely new level. Grant Thornton member firms are now in a unique position.

"The automotive sector, including manufacturers, component suppliers and retailers is going through major change. The price of raw materials, the importance of low cost economy countries as both suppliers and consumers, the health of the world economy, corporate pension and labour costs are all key factors triggering a major shake-out across the industry.

“Businesses will need to keep pace with change and be flexible in how they adapt to these challenges. In all of these cases debt restructuring and careful and regular operations reviews will play a major part."

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