Freshfields Bruckhaus Deringer ('Freshfields') has advised PAI Partners on the acquisition of a co-controlling stake in the Azets group (‘Azets’).

Azets is a leading provider of business-critical accounting, tax, payroll, audit and advisory services to SMEs and has operations in the UK, Denmark, Finland, Norway and Sweden. From completion, Azets will be jointly controlled by PAI and Azets’ existing majority owner, Hg Capital.

Azets announced that the investment by PAI will enable Azets to deliver on future opportunities to help support Azets’ thousands of clients and colleagues globally, deepening its presence in new and existing markets across Europe through a combination of organic growth and further strategic M&A.

The Freshfields team is being led by partner Rebecca Ward and senior associate Maria Ledeneva.  The team includes partners Ali Kirby-Harris, Peter Clements, and James Smethurst.