Adelis Equity Partners Forms Cedra Norway via Acquisition of Deloitte Norway’s SMB Audit and Advisory Business

Adelis Takes Minority Stake in Group Formed by Crowe Osborne, Frejs Revisorer, RSM Göteborg and Qrev

January 20, 2025

Accounting & Tax

Four Swedish audit firms — Crowe Osborne, Frejs Revisorer, RSM Göteborg and Qrev — have formed a joint group to invest in digitalization, quality assurance and employee development. Adelis Equity Partners will become a minority owner to support strategic investments and growth (including add-on acquisitions); the combined group reports roughly SEK 400m in revenues and more than 200 employees, and the transaction is expected to close in February 2025.

Adelis Equity Partners Forms Circura Danmark with Four Danish Rehabilitation Contractors

February 26, 2025

Construction

Adelis Equity Partners has partnered with four owner-led Danish rehabilitation and construction firms — Arne Pedersen A/S, Lundbæk & Hansen Bygningsforbedring A/S, LKA Entreprise A/S and Egon Olsen & Søn A/S — to establish Circura Danmark A/S, a platform group focused on building improvement and rehabilitation across Denmark. The combined group generates approximately DKK 750 million in revenue and about 400 employees, and plans to expand across Denmark through organic growth and further acquisitions.

Adelis Equity Partners Acquires Majority Stake in Aderian Group

December 9, 2022

IT Services

Adelis Equity Partners has become the new majority owner of Swedish IT services group Aderian to support accelerated organic growth and an active M&A strategy. Aderian, a decentralized group of local IT specialists focused on SME customers, will retain significant ownership by entrepreneurs and management and is expected to reach c. SEK 1 billion in revenue with ambitions to triple revenue over five years.

Adelis Equity Partners Partners with Håndverkskompaniet to Build Norwegian Rehabilitation Services Group

May 24, 2022

Construction

Adelis Equity Partners has partnered with Oslo-based Håndverkskompaniet to create a leading building rehabilitation and renovation group in Norway. The partnership will position Håndverkskompaniet as a platform for consolidation — targeting two to four add-on acquisitions in the first year and an ambition to double revenue by 2025; financial terms were not disclosed and the deal is subject to customary regulatory approvals.

Adelis Equity Partners Acquires Majority Stake in Bruhn NewTech

June 28, 2024

Software

Adelis Equity Partners (via Adelis Equity Partners Fund III AB) has acquired a majority stake in Danish CBRN knowledge-management software provider Bruhn NewTech, with the deal closing on June 28. The investment is the first step in Adelis’ plan to build a European defense-focused technology group and will support Bruhn NewTech’s global growth and product development.

IK Partners to Acquire Carved-Out Parts of PwC Norway Audit, Consulting and Tax & Legal Businesses

September 15, 2025

Professional Services

IK Partners’ IK Small Cap IV Fund (IK SC IV), together with reinvesting PwC Norway partners, has signed an agreement to acquire parts of PwC Norway’s audit, consulting and tax & legal services dedicated to local Norwegian clients. The carve-out will create a newly formed independent audit and advisory firm with over 280 professionals across 20 offices in Norway, subject to customary regulatory approvals. Financial terms were not disclosed.