IK carves out KPMG Sweden's business advisory division

The GP used capital from its IK VIII Fund to facilitate the transaction.

IK plans to integrate the business with Aspia, a business accounting service within PwC Sweden that the GP acquired in February this year. The combined entity will operate under the brand name of Aspia, and together, the two businesses are expected to report a turnover of SEK 1.25bn this year.

Both Aspia and KPMG's business accounting division share a similar service offering, customer base and presence, as well as cultural heritage, according to Magnus Eriksson, the incoming CEO of the newly formed entity and current service line leader at Aspia PwC.

Company
The business services division of KPMG Sweden provides accounting, payroll and related advisory services. It employs a staff of around 300 employees across Sweden.

People
IK Investment Partners – Alireza Etemad (partner).
Aspia – Magnus Eriksson (service line leader, incoming CEO).
KPMG Sweden – Magnus Fagerstedt (CEO).

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