Four leading audit firms join forces to establish a group focused on audit and advisory. Adelis becomes minority owner to support strategic investments and growth
The group is formed by Crowe Osborne, Frejs Revisorer, RSM Göteborg and Qrev – four reputable audit firms recognized for their long-term customer relationships, highly qualified employees and leading positions within their respective markets. While maintaining their local brands and leadership, the firms will jointly invest in digitalization, quality assurance and employee development. The group aims to become the leading advisor for entrepreneur-led companies and other customers in non-regulated markets in Sweden.
The demand for audit and advisory services is growing rapidly, driven by an increasingly complex regulatory environment and the rising need for tailored and qualified advisory services. At the same time, audit firms increasingly need to invest in key areas such as digitalization and employee development. In order to address these trends, four leading audit firms have formed a group focused exclusively on audit and advisory for customers in non-regulated markets.
The strategic goal is to become the most attractive employer in the audit industry, while delivering the highest levels of customer satisfaction. Emphasizing entrepreneurship and long-term customer relationships, the group will continue to operate under local brands and leadership, while leveraging joint resources to invest in critical areas such as digitalization, quality assurance, employee development and recruitment.
Svante Forsberg, with extensive experience in the audit industry, will assume the role of Chairman. He comments: ”The group will be a unique market player, targeting a segment with significant customer demand. The firms will retain their long-term customer relationships and a strong entrepreneurial culture, while benefitting from being part of a larger group – truly the best of both worlds”.
The group will have combined revenues of SEK c. 400m and more than 200 employees and is well-positioned for growth. Adelis becomes minority owner to support strategic investments and growth through acquisitions of similar audit firms.
”Adelis has followed the audit industry closely over many years and sees an interesting shift in the market with new regulations and a continuing trend towards digitalization, creating attractive opportunities for a group with greater resources. We see significant growth potential and will seek like-minded entrepreneurs to join us on this journey”, say Erik Hallert and Jakob Wedenborn at Adelis Equity Partners
The transaction is expected to close in February 2025, subject to receiving all customary regulatory approvals.
For further information:
Svante Forsberg, Chairman
Phone: +46 733 972 210
E-mail: svante@kungskroka.se
Erik Hallert, Adelis Equity Partners
Phone: +46 709 36 80 41
E-mail: erik.hallert@adelisequity.com
About Adelis Equity Partners
Adelis is a growth partner for well-positioned companies in the Nordic and DACH regions. Adelis partners with management and/or owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, making 44 platform investments and more than 250 add-on acquisitions. Adelis manages approximately €3.0 billion in capital. For more information, please visit www.adelisequity.com.