White & Case advises Adelis on its minority investment in and establishment of a new audit and advisory group

Global law firm White & Case LLP has advised Adelis Equity Partners (Adelis) on its minority investment in and the establishment of a new group focused on audit and advisory, consisting of four leading audit firms in Sweden: Crowe Osborne, Frejs Revisorer, RSM Göteborg and Qrev. The four reputable audit firms are recognized for their long-term customer relationships, highly qualified employees and leading positions within their respective markets. The group aims to become the leading advisor for entrepreneur-led companies and other customers in non-regulated markets in Sweden. The transaction is expected to close in early 2025 subject to customary regulatory approvals.

The group will have combined revenues of approximately SEK 400 million and more than 200 employees. While maintaining their local brands and leadership, the firms will jointly invest in digitalization, quality assurance and employee development. Adelis becomes minority owner to support strategic investments and growth through acquisitions of similar audit firms.

Adelis is a private equity firm managing approximately €3 billion in capital and has been making 44 platform investments and more than 250 add-on acquisitions.

The White & Case team which advised on the transaction was led by partners Shoan Panahi and Sebastian Wallin (both Stockholm) and included partner Michael Engel (London), associates Marcus Halling, Anders Westling, Filip Karlsson, Greta Ekblom, Sara Sundvall, Tea Lasu, Siri Wieslander (all Stockholm), Joao Lacerda (London, Brussels) and Joar Lindén (Brussels).

For more information, please contact: Sandra Eriksson | Nordic Head of Business Development & Marketing/Communications,  E  sandra.eriksson@whitecase.com

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