Cedra acquires parts of Deloitte’s mid-market business in Denmark

Cedra, a Swedish accounting and advisory firm, has acquired parts of Deloitte’s mid-market business in Denmark. Around 460 employees are crossing from the Big Four firm to the mid-market player.

Established in 2025 with the backing of private equity, Cedra is an accounting and advisory firm focused on the mid-market and small business segment. The firm was launched through a merger of five Swedish firms, and has since completed several deals to expand its presence in Sweden, Denmark and Norway.

Cedra’s launch in Denmark was announced in September last year, when the company closed a strategic partnership with local players Roesgaard and Inforevision. The deal with Deloitte now more than doubles its Danish business, from around 300 employees to more than 750 people.

The transaction sees Deloitte divest portions of its Audit & Assurance business, as well as a smaller part of its Tax & Legal operations. The deal includes four regional offices located in Aalborg, Silkeborg, Kolding and Odense, alongside selected client portfolios in Aarhus and Copenhagen.

Completion of the transaction is subject to customary regulatory approvals, including from the relevant competition authorities, and is expected to take place during the autumn of 2026.

A win-win according to both firms

In a statement, Cedra said the deal will help it create a stronger, more focused, and future-ready firm to meet the evolving audit and professional services market.

Martin Nyrop, the CEO of Deloitte in Denmark, described the sale as “an important strategic step” for the firm. “The goal of this transaction is to create two razor sharp businesses, Deloitte and Cedra, each better positioned to serve distinct client needs, invest in talent, relevant capabilities and create long-term value.”

“At Deloitte, we are sharpening our focus on serving larger businesses where deep industry insight, specialization, technology and international perspective matter more than ever. This decision enables us to invest more deliberately in the client’s needs, capabilities, and areas where Deloitte can create the greatest value in the mid-market.”

“Cedra will be built around clients in segments for whom proximity and local presence are key. For the colleagues and clients who will transfer, we believe Cedra will provide a great place to both develop and create value.”

In August last year, Cedra acquired the SME business of Deloitte in Norway. That deal led to the transfer of around 300 professionals.