Private equity firm GMT Communications Partners has agreed to acquire the legal and tax & accounting businesses of Thomson Reuters in Denmark and Sweden.
The transaction, whose amount remained undisclosed, is expected to close later this week. Key executives, including Managing Director Neil Story, will remain with the business.
GMT will support the company’s growth strategy based on both organic and acquisitive expansion in the Nordic region.
The Scandinavian legal and tax & accounting business, which employs approximately 140 people across offices in Copenhagen, Stockholm and Aarhus, provides legislation, case law and regulatory information to law firms, corporates, government lawyers, law students, accounting firms and corporate accountants.
The company has an online-based business model, which currently accounts for 60% of total revenues.
Key brands include KARNOV, PACTA and UfR, amongst others.
In conjunction with the investment, Stefan Franssen, Partner at GMT, will join the company’s Board.