Freedom Group continues its strategic expansion in the accounting industry with the acquisition of four new financial firms: Adsum Redovisning och Affärsrådgivning AB, Bright Accounting Sweden AB, Decide Ekonomiservice AB, and Avize Ekonomi AB.
Both Adsum, previously part of the Baker Tilly network, and Decide Ekonomiservice were hybrid firms where Freedom has acquired the accounting divisions. Additionally, some former auditors will join Freedom as business and specialist advisors. Through these acquisitions, Freedom establishes itself in the cities of Västerås, Enköping, Eskilstuna, and Trollhättan. Bright Accounting has experienced rapid growth in central Stockholm in recent years, as has Avize, which is based near Malmö. With these four acquisitions, Freedom Group’s revenue increases by SEK 43 million to SEK 380 million.
“These four firms are all modern financial companies with high competence and the ability to serve as the entire financial function for their clients. This is something we highly value. We look forward to welcoming these firm leaders into our fantastic CEO group and continuing to create value for Sweden's entrepreneurs together,” says Emma Strömfelt, CEO of Freedom Group.
Jihmmy Ingvarsson and Marita Lyckstedt, auditors, majority owners, and sellers of Adsum Redovisning & Affärsrådgivning AB, commented on the deal:
“We are very pleased to have found a buyer whose values align closely with our own and who takes a solutions-oriented approach. This transaction provides excellent development opportunities for our employees, and we are proud that the Adsum brand, which we have built over 16 years, will continue to thrive and evolve alongside rapid technological advancements. At Adsum Revision AB, we are confident this change will foster a value-creating collaboration between the companies in our local markets.”
Susanne Wilander, formerly head of Adsum's accounting division, will now become the CEO of the new company Adsum Redovisning:
“It feels exciting and enriching to have the opportunity to drive the accounting and advisory segment forward under Freedom's umbrella. We look forward to focusing on more issues than we previously could as a hybrid firm and, together with Freedom, contributing to the development of the accounting and advisory industry.”
Linda Palmén, seller of Decide Ekonomiservice AB in Trollhättan, shared the following background on the deal:
“We chose Freedom Group because it was the best decision for our clients and staff. Continuing to be the local firm close to our customers has been very important during this process, and we understand it is equally important to our new owners. As a smaller firm, we are excited to take the next step in our journey toward digitalization and development, both as a firm and for our clients. Being part of a larger organization focused on these aspects is a real strength for us.”
