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Azets has announced that it has acquired part of KPMG Sweden’s business, focused on audit, advisory and tax services for SMEs.
The transaction is expected to complete in summer 2025 and the acquired business will become a new, separate business area for audit and advisory services within Azets Sweden.
The agreement marks the first of its kind for Azets in the Nordics, signalling the group’s intention to build a strong audit, advisory and tax capability in the region.
A total of 270 staff, including 14 equity partners, will join Azets upon completion of the deal, doubling the size of its Swedish business to SEK1bn (£738m).
KPMG’s strong position in the public sector presents Azets Sweden the opportunity to enter a new market.
Azets currently operates in Denmark, Estonia, Ireland, Finland, Norway, Romania, Sweden, and the UK.
Chris Horne, Azets group CEO, said: “This is a transformational agreement for Azets, as we look to create a platform for accelerated growth of our audit, advisory and tax business across the Nordic region. This underlines our ambition to invest in new opportunities where we are trusted to deliver sustained outcomes that meet the evolving needs of our clients.
“We look forward to welcoming our new colleagues from KPMG on completion of the deal, whose deep expertise and outstanding reputation in the market align with our strong client focus. We are committed to working closely with KPMG to support them throughout the process and ensure a smooth transition.”
Mathias Arvidsson, partner and CEO at KPMG, added: “KPMG’s ambition to be at the forefront of auditing and strategic advisory services is strengthened by our ability to adapt to market conditions, which contributes to the development of both our own organization and our clients’. We are confident that Azets is the right buyer for the part of the business we are divesting, and both employees and clients will be well taken care of. For all of us, this means that we will strengthen our focus on the different customer segments.”
