Azets expands into Sweden’s audit and advisory market with KPMG acquisition

Azets has agreed to acquire part of KPMG Sweden’s business, marking a strategic move into the country’s audit and advisory market. The deal will see Azets take on KPMG’s audit, tax, and advisory services for SMEs, as well as audit-related services for municipalities and regions, doubling the size of its Swedish business to SEK 1 billion.

The acquisition expands Azets’ presence to 32 cities across Sweden and aligns with its strategy of providing both local and digital services. KPMG’s strong position in the public sector also presents a new market opportunity for Azets, which aims to bring its blend of personalised service, international strength, and tech-driven solutions to Swedish businesses.

This is the first acquisition of its kind for Azets in the Nordics and a key step in the Group’s broader strategy to build a leading audit, advisory, and tax capability across the region. It also underpins Azets’ long-term ambition to become a £1 billion turnover business by 2027.

Founded seven years ago in response to the digitalisation of financial compliance, Azets has grown into one of the world’s largest tech-enabled providers of professional services, offering accounting, tax, payroll, audit, and advisory solutions to over 100,000 clients across eight countries, including Sweden, Norway, Finland, Denmark, the UK, and Ireland.

The deal will see 270 new employees, including 14 equity partners, join Azets upon completion in summer 2025. The acquired business will form a new, separate division focused on audit and advisory services within Azets Sweden.

Chris Horne, Group Chief Executive Officer at Azets, called the acquisition a “transformational” step for the firm:

“This agreement creates a platform for accelerated growth of our audit, advisory, and tax business in the Nordics. We are committed to investing in opportunities that deliver long-term value for our clients, and this move reinforces our position in the Swedish market.”

“We look forward to welcoming our new colleagues from KPMG, whose expertise and reputation align with our client-first approach. For our team in Sweden, this also brings exciting career opportunities, exposure to new markets, and the chance to be part of a Group dedicated to sustainable growth.”

Mathias Arvidsson, Partner and CEO of KPMG Sweden, added:

“Our ambition to remain at the forefront of auditing and strategic advisory services means adapting to market conditions. We are confident that Azets is the right buyer for this part of our business, and we believe both our employees and clients will be in good hands.”

With the deal set to complete next summer, Azets is poised to strengthen its foothold in the Nordic region and expand its influence in Sweden’s SME and public sector markets.