Azets Sverige, an auditing and advisory firm, has acquired segments of KPMG’s operations in Sweden.
Upon the completion of the transaction with Azets, KPMG will streamline its operations to focus on 12 key locations. Approximately 270 employees across 28 offices in Sweden will be impacted. Out of the 28 offices, 17 are set to be sold off.
KPMG Sweden is sharpening its focus and plans to divest the segments of its business that mainly cater to audit, advisory, and tax services for small enterprises, along with specific portions aimed at medium-sized businesses in select areas. The divestment encompasses audit and specific advisory services provided to municipalities and regions.
The divestment is set to occur with Azets, establishing a new, distinct business area focused on auditing and advisory services within Azets Sweden.
Fourteen partners from KPMG are set to join Azets
The landscape for audit and advisory services is in a state of continuous transformation, imposing new challenges on auditors and advisors alike. The transaction allows KPMG to enhance and expand its services for large and medium-sized enterprises, as well as those with significant growth potential, aligning with the firm’s overarching global strategy.
KPMG aims to maintain its leadership in auditing and strategic consulting, assisting clients in successfully growing their businesses. Adapting to the ever-evolving market landscape is essential for KPMG’s standing in Sweden. The divestment represents a crucial move in our ongoing efforts to enhance services and offerings that deliver greater value to our clients, employees, and society at large. We firmly believe that Azets is the ideal buyer for the segment of the business we are currently divesting. I am confident that both employees and clients will be treated with the utmost care and attention in the future. Mathias Arvidsson, partner and CEO of KPMG, emphasizes that this will lead to a heightened focus on the various client target groups.
“This deal is a significant milestone, underscoring Azets’ aspirations for growth. KPMG Sweden boasts top-tier specialists in auditing, specifically targeting the customer segments that Azets aims to prioritize. We are thrilled to announce the addition of 270 new team members who align with our commitment to customer satisfaction and our lofty goals,” Carolina Brandtman, CEO of Azets Sweden, emphasizes the commitment to collaborating with KPMG to facilitate a seamless integration process and transition for the staff.
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