Today, a number of accounting firms around Sweden announce that they have decided to join forces with the aim of being at the forefront of the accounting industry's development and digitalisation. MVI is the main shareholder and partner in the established group of companies. "We want to combine modern technology with personal service to provide relevant business support and genuine customer value."
Technological developments in the accounting industry are accelerating. One reason is AI technology, which enables the automation of increasingly sophisticated tasks. However, the technology shift does not only pose a threat but also new opportunities for agencies. That is why a number of accounting firms from Malmö, Stockholm and northern Sweden have chosen to join forces in a joint group with a clear goal of placing themselves at the forefront of developments.
"Our assessment is that it will be difficult to be an independent agency in the long term. To keep up with developments, we need to invest heavily in both technology and skills. Then it makes sense to do it together with more players who share interests," says newly appointed CEO.
The group consists of a number of accounting firms; Dillon MTV AB, Outsource AB and Resultera i Redovisning AB in Malmö, Bfree in Stockholm and Value & Friends in Västerbotten. One of the agencies is the accounting firm and software company Bfree Advisor, which developed the acclaimed Bflow accounting system. A unique accounting system where customers can easily manage their administration for e.g. bookkeeping, payroll and receipt management but also perform banking tasks, such as paying bills, taxes and expenses, all in real time.
"We see great advantages in the new constellation. With the formation of the group, we will be able to combine a strong local presence and service with the technical and financial capabilities to provide increasingly relevant business support and real customer value. For agency owners who choose to join us, it means an opportunity to catch up with digitalisation and future-proof jobs for their staff."
The ambitions are shared by MVI, which has stepped in as a financial partner. Stefan Karlsson, partner at MVI, says: "We see great business potential and societal benefit in the opportunity to help develop the accounting industry to deliver increasingly sophisticated business support."
More accounting firms will join the group in the spring. The turnover of the group is currently around SEK 80 million with about eighty employees. The group has an ambitious growth agenda for the coming years.
A majority of the former owners reinvested in the group. The investment was in line with MVI's investment theme of Digitalisation, to enable innovation and productivity through digital transformation.
For more information, please contact:
Stefan Karlsson, Partner
stefan.karlsson@mvi.se / +46 (0) 70 655 78 52
Mårten Werner, Director
marten.werner@mvi.se / +46 (0) 70 992 72 24
MVI is a leading private equity investor in small and medium-sized companies. Our goal is to act as a catalyst for growth and to build long-term strong companies in Sweden and the rest of the Nordic region. We actively work on value creation in our portfolio companies based on our broad network of entrepreneurs and business leaders. MVI is recognised for its ability to identify proprietary investment themes and deliver high returns in its investments.
