Talenom grows through an acquisition in Sweden

Talenom Plc, Insider information 30 May 2022 at 14:00 EEST

Talenom grows through an acquisition in Sweden

Talenom has agreed to acquire the accounting services of Swedish Mazars Sweden. The acquired business will be transferred to a separate limited company before the transaction takes effect. The acquisition strengthens Talenom's position in southern Sweden in the Skåne county, Stockholm and Gothenburg, where it serves SMEs in the region.

The acquired company will be transferred to Talenom on 1 September 2022. The final execution of the transaction is conditional on the fulfillment of the conditions of the transfer of assets prior to the transaction. The annual net sales of the acquired company are around SEK 55 million (approximately EUR 5.2 million, using the average 2021 SEK/EUR exchange rate 10.5) and EBITDA is estimated to be SEK 11 million (some EUR 1.0 million). The acquired company employs 46 financial administration professionals.

The purchase price is around SEK 50 million (approximately EUR 4.7 million, using the SEK/EUR exchange rate 10.5293 on 27 May 2022) and the possible additional purchase price, if the economic targets are met, is at most SEK 76 million (approximately EUR 7.2 million).

Mazars Sweden, founded in 1954, is Sweden's seventh largest audit firm focusing on auditing and tax advice after selling accounting and payroll services.

“Mazars is a high-quality financial management service provider with a strong market position in Sweden and it has highly skilled personnel. Talenom has a strong track record in technological development, both in customer systems and in service production. We believe that, together with technological know-how and skilled personnel, we can strengthen our position in the Swedish market further. We warmly welcome the entire staff as part of Talenom,” says Fredrik Waker, Talenom’s M&A Director in Sweden.

"The accounting industry is transforming and digitalizing quickly. It has always been important for us to provide our customers with high-quality and personal service. We were impressed by the values and technological development of Talenom. By combining these factors, we can be confident that our customers will get good service and the most advanced solutions, and our personnel will have secure jobs and new career opportunities," says Mikael Fredstrand, CEO of Mazars in Sweden.

Talenom combines software development with expertise in the accounting industry in a unique way. The aim of the company is to grow both organically and through acquisitions in Finland and in Europe.

TALENOM PLC
BOARD OF DIRECTORS

Further information:
Otto-Pekka Huhtala
CEO, Talenom Plc
+358 40 703 8554
[email protected]

Talenom is an agile and progressive accounting firm established in 1972. Our business idea is to make daily life easier for entrepreneurs with the easiest-to-use digital tools on the market and highly automated services. In addition to comprehensive accounting services, we support our customers’ business with a wide range of expert services, as well as financing, account and payment traffic services. Our vision is to provide superior accounting, account and payment traffic services for SMEs.

Talenom's growth history has been strong – average annual net sales growth was 16.2% in 2005-2021. In 2021, Talenom had an average of 1,012 employees in Finland, Sweden and Spain at a total of 52 locations. Talenom's share is quoted on the Main Market of Nasdaq Helsinki. Read more: sijoittajat.talenom.fi/en/