Ryan Acquires Svalner Atlas, Forging a New European Tax Giant

STOCKHOLM, SWEDEN – June 01, 2026 – In a landmark move set to reshape the European financial advisory landscape, Texas-based Ryan, the world's largest independent tax services provider, has announced it will join forces with Svalner Atlas | Advisors. The transaction, reportedly valued at approximately $400 million, creates a formidable new entity poised to challenge the long-standing dominance of the “Big Four” in the region.

Svalner Atlas, a leading independent tax and transaction advisory group in Northern Europe, brings over 450 professionals and a strong presence across the Nordics and Benelux to the table. This strategic combination significantly bolsters Ryan's European footprint, merging Svalner Atlas’s deep regional expertise with the global scale and technological prowess of the American tax giant.

A New Powerhouse in European Advisory

The timing of the deal is critical, landing in the middle of a booming European tax advisory market. Valued at nearly $12 billion in 2023, the sector is projected to more than double by 2032, driven by increasingly complex cross-border regulations, the digitalization of tax compliance, and heightened corporate focus on transparency. By integrating Svalner Atlas, which generates over $120 million in annual revenue, Ryan’s European operations are set to exceed $320 million in revenue, creating a clear and powerful alternative to traditional market leaders.

Founded in 2023 through a combination of leading independent firms, Svalner Atlas quickly established itself as a premier advisory group with a client roster of over 4,000. Its Tier 1 rankings in specialized areas like corporate taxation, transfer pricing, and private client services in Sweden, Finland, and the Netherlands made it an attractive target.

Ryan, a global behemoth with over 7,100 professionals and annual revenues of approximately $1.7 billion, has been vocal about its ambitions in Europe. This acquisition is the capstone on an aggressive expansion campaign that has seen the firm make six other European acquisitions in the past year.

"This transaction is an important milestone in Ryan's continued European growth strategy," said G. Brint Ryan, Chairman and CEO of Ryan. "Svalner Atlas Advisors has built an exceptional reputation for delivering cross-border tax and transaction advisory services across the region. Their strong local presence, international reach, and client-focused culture align closely with Ryan's values and strategic vision."

Global Scale Meets Local Expertise

The strategic logic behind the merger is a classic case of complementary strengths. Svalner Atlas gains access to a global platform, cutting-edge technology, and the vast resources of an industry leader, enabling it to serve its multinational clients on a broader scale. Meanwhile, Ryan acquires not just market share, but also a highly respected team with deep-rooted local knowledge and client relationships across key European markets.

Viktor Sandberg, Group CEO of Svalner Atlas, highlighted the shared vision between the two firms. "By joining Ryan, a firm that shares our entrepreneurial mindset, commitment to quality, and ambition to build a leading international advisory platform, we gain access to a stronger platform for continued growth, expanded capabilities, and broader international reach, while remaining true to our culture and client-centric approach."

To ensure a smooth transition and continuity for both clients and employees, Svalner Atlas will, for the time being, continue to operate under its existing brand and leadership. In a sign of the deal's strategic importance, Viktor Sandberg will not only continue as President of Northern Europe but will also take a seat on the Ryan Tax Holdings board, signaling a partnership rather than a simple takeover.

The Private Equity Playbook: A Successful Exit

The transaction also marks a significant win for Consolid, the Stockholm-based private equity firm that was instrumental in creating Svalner Atlas. Consolid backed the advisory group at its formation in 2023, supporting its rapid expansion across the Nordic and Benelux regions. This sale to Ryan represents a highly successful exit, validating Consolid’s investment thesis and showcasing a growing trend of private equity fueling consolidation in the professional services sector.

By identifying and nurturing specialized advisory firms, private equity investors are effectively building the next wave of challengers to established players. The Svalner Atlas story serves as a prime example of this playbook: form a regional leader through strategic mergers, support its growth, and then exit through a sale to a global powerhouse seeking to buy, rather than build, a significant market presence.

Navigating Cross-Border Complexity

For the multinational corporations, private equity funds, and large international businesses that make up the core clientele of both firms, the merger promises tangible benefits. In an era defined by complex and ever-changing tax regimes like the EU’s Anti-Tax Avoidance Directive (ATAD) and the OECD’s BEPS initiatives, the demand for integrated, tech-enabled advisory has never been higher.

The combined entity will be uniquely positioned to meet this demand. Clients will now have access to a single provider that can offer both nuanced, on-the-ground advice in multiple European jurisdictions and the sophisticated software and global compliance solutions that Ryan is known for. This fusion of high-touch advisory and high-tech efficiency is designed to help organizations manage complexity, mitigate risk, and unlock capital for growth in an increasingly challenging international environment. The combination of Svalner Atlas's deep advisory expertise with Ryan's global scale and technology-enabled capabilities creates new opportunities for long-term value creation for clients and employees alike.