Adelis to acquire Norway’s SMB business of Deloitte.

Adelis, a private equity investment firm that invests in business services, niche industries, consumer goods and healthcare sectors, agreed to acquire Deloitte Norway’s SMB business from Deloitte, a multinational professional services network. Financial terms are not disclosed. Adelis acquires Deloitte Norway’s SMB business through a carve out and forms Cedra Norway in partnership with former Deloitte partners. The newly formed group will have revenues of NOK 500m and consist of over 300 professionals across 13 locations in Norway. The ambition is to become the leading provider of audit and advisory services for mid-market customers in Norway. Cedra Norway will operate as a standalone entity but will collaborate closely with Cedra Sweden.