Freedom Group continues its strategic expansion in the accounting industry through the acquisition of four new accounting firms: Adsum Redovisning och Affärsrådgivning AB, Bright Accounting Sweden AB, Decide Ekonomiservice AB and Avize Ekonomi AB.
Both Adsum, which was part of the Baker Tilly network, and Decide Ekonomiservice, are former combination agencies where Freedom has acquired the accounting business and where some former accountants join Freedom as business and specialist advisors. With these acquisitions, Freedom is establishing itself in the cities of Västerås, Enköping, Eskilstuna and Trollhättan.
Bright Accounting has grown rapidly in the centre of Stockholm in recent years, as has Avize, which is based outside Malmö. With these four acquisitions, Freedom Group’s turnover increases by SEK 43 million to SEK 380 million.
“These four acquisitions are all modern accounting firms with a high level of expertise and the ability to provide the customer’s entire accounting function. Something we value highly. We look forward to welcoming these agency leaders to 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, accountants, majority owners and sellers of Adsum Redovisning & Affärsrådgivning AB, comment on the deal: “We are very pleased to have found a buyer with values similar to ourselves and a solution-oriented approach. This deal enables very good development opportunities for our employees and we are proud that the Adsum brand that we have built up over 16 years will live on and develop further in line with the rapid development of technology. We at Adsum Revision AB are sure that the change will generate a value-creating collaboration between the companies in our local markets”.
Susanne Wilander, who has been head of Adsum’s accounting department, will now become CEO of the new company Adsum Redovisning: “It feels exciting and developing to have the opportunity to continue to run the accounting and consulting department under Freedom’s umbrella. We look forward to being able to focus on more issues than we have been able to do before in a combined agency and, together with Freedom, contribute to the development of the accounting and consulting industry.”
Linda Palmén, salesperson of Decide Ekonomiservice AB in Trollhättan, gives the following background to the deal: “We chose Freedom Group because it was best for our customers and our staff. To still be the local agency with proximity to the customers has been very important in this process and we have understood that is at least as important for our new owners. As a smaller agency, we are really looking forward to taking the next step in our journey to digitise and develop both ourselves as an agency but also our clients and here we now have a strength in belonging to a larger organisation that focuses on this.”
