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(Sharecast News) - Ryan has agreed to buy Sweden's Svalner Atlas Advisors, it was announced on Monday, as the US tax services specialist continued to ramp up its European presence.
Texas-based Ryan called the deal a "milestone" in its European growth strategy. Svalner Atlas, which was created when three advisory firms in Sweden, Finland and the Netherlands joined forces in 2024, currently has around 4,000 clients with offices in seven European cities.
It also has more than 450 professionals and 50 partners, who will joined Ryan as part of the deal. Ryan is the bigger firm, with more than 7,100 professionals and around 74,000 clients in more than 80 countries.
Although financial terms were not disclosed, it is understood the deal values the Stockholm-based firm at $400m
Brint Ryan, founder and chief executive, said Svalner had built an "exceptional reputation" in cross-border tax and transaction advisory services. "Their strong local presence, international reach and client focused culture align closely with Ryan's values and strategic vision."
Tom Shave, president of European and Asia-Pacific operations, added: "This combination will further establish Ryan as the leading tax and advisory platform serving clients across Europe."
Viktor Sandberg, chief executive of Svalner Atlas, told the Financial Times that the deal was a "strategically-wise decision" that would allow it to continue as an independent challenger to the Big Four in both Europe and globally.
The newspaper also reported that terms were signed last week, pre-empting an auction process in which final bids had been expected on Tuesday.
The deal is expected to complete in the third quarter.
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