Azets acquires parts of KPMG’s audit and advisory business in Sweden

UK-based professional services firm Azets has completed the acquisition of parts of KPMG’s business in Sweden, focused on services to small and mid-sized businesses and government clients.

The deal, which was announced in February 2025, includes part of KPMG’s business focusing on audit, advisory, and tax services for small companies, as well as audit and advisory offerings for municipalities and regional authorities. The move sees 300 professionals, including 14 partners, cross to Azets, lifting its revenues in Sweden to SEK 1 billion.

The acquisition signals the start of Azets’ broader Nordic expansion strategy, as the firm targets building a £1 billion business by 2027. Azets is backed in this ambition by private equity firms PAI Partners and Hg.

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.”

“The Nordic market is a key pillar of our strategy. We’re committed to investing in talent, expanding our services, and supporting clients with the trusted, technology-enabled expertise they need to move forward with confidence.”

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.”

Meanwhile, for KPMG, the deal is in line with its strategy to focus on the large cap segment of the market and focus on a number of larger cities in Sweden.

“We are focusing our presence in Sweden on 12 locations to build a stronger KPMG,” said Mathias Arvidsson, CEO of KPMG in Sweden. “This will give us the strength to accelerate our offering and continue creating value for customers, employees, and society.”