Azets, backed by private equity investors PAI Partners and Hg, has completed the acquisition of KPMG Sweden’s audit, advisory, and tax services for small businesses, selected mid-sized firms, and public sector clients, marking its first entry into the Nordic audit market.

The deal brings 300 professionals, including 14 partners, into Azets Sweden, expanding its footprint to more than 30 cities and lifting annual revenues in the country to SEK 1bn. The acquired operations will form a dedicated audit and advisory division within Azets Sweden.

Chris Horne, Group CEO of Azets, said: “This is a significant and symbolic step forward for Azets, as we lay the foundations for long-term growth across the Nordics. Sweden is our launchpad – but our sights are firmly set on building a leading audit, tax and advisory capability across the region.”

Carolina Brandtman, Sweden Managing Director at Azets, added: “Through this strategic step, we strengthen our ability to meet our clients’ growing need for financial services and qualified advisory support in a cohesive and locally rooted way.”

Following the transaction, KPMG Sweden will concentrate its presence on 12 locations. CEO Mathias Arvidsson commented: “The transaction, in collaboration with Azets, has been carried out with great professionalism and expertise. We wish Azets Sweden, along with the employees and clients who are now joining their operations, all the best.”

The acquisition signals the start of Azets’ broader Nordic expansion strategy, as the firm targets building a £1bn business by 2027. Backed by PAI Partners and Hg, Azets is continuing to reinforce its position as a leading partner for SMEs and public sector organisations across the region.

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