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Grant Thornton advises on green Carnstone deal

Grant Thornton UK LLP’s Corporate Finance team in the South has advised on the sale of market-leading sustainability management consultancy Carnstone Partners Limited to global leader in environmental and advisory solutions SLR Consulting.

Carnstone, which operates out of the UK and China, delivers bespoke, impactful ESG strategic advice to the C-suites of its blue-chip customer base. Its core areas of expertise include climate change, biodiversity, human rights and response to rising inequality.

Established in 2003, the management team prides itself on its ability to convene and expand multi-client projects (MCP) where they facilitate discussion and action within sector-led forums in industries such as pharmaceuticals, media, chemicals and publishing.

Completing projects on every continent, SLR Consulting is a global leader in end-to-end sustainability solutions. It has over 100 offices across 13 different countries and employs over 1,800 people, offering more than 30 different technical services.

SLR is committed to making sustainability happen and the addition of the Carnstone team further boosts our ability to help clients tackle some of the biggest ESG challenges they face around responsible sourcing, climate resilience, and impacts on communities and supply chains.

Neil Penhall, SLR’s CEO, said “I am delighted to welcome the Carnstone team to SLR. Advising our clients on ESG and sustainability issues is at the core of what SLR does and the Carnstone team is a great addition to our existing European and Asian teams.

“Carnstone’s experience in supporting large companies to address social, environmental and climate issues in their corporate strategies and supply chains, as well as their experience in supporting sectors such as pharmaceuticals and media to deliver their sustainability commitments will greatly enhance SLR’s commitment to Making Sustainability Happen.”

Simon Hodgson, Managing Director at Carnstone Partners Limited, said: ““We are very excited to now be part of SLR. Together with SLR we’ll be able to offer our clients access to more services, more technical expertise, and geographical coverage to address the sustainability imperatives we face. For our staff, this move offers greater opportunity for growth and development.

“However experienced you are as a management team, the process of taking your precious company to market is complex, daunting and deeply personal. The Grant Thornton team quickly became invaluable providers, not just of first-rate practical help but also moral support and encouragement.

“The team immediately understood what mattered to us and were lovely to work with. Even at the tricky points, we had fun!”

This deal marks another completion for the corporate finance team, following a successful 2022, which saw the Grant Thornton team complete 215 deals that equated to a total value of £8.8bn.
Nigel Le Bas, Corporate Finance Director at Grant Thornton UK LLP, said: “This is another great example of Grant Thornton’s corporate finance team working across the region and service line, to deliver the best outcome for the client.

“SLR provides a fantastic strategic and cultural fit, a brilliant home for Carnstone’s MCPs and significant ongoing roles and opportunities for key Carnstone management and employees.”

The Grant Thornton team also included Manager Carolyn Guildford and Associate Lewis Jowett.

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