Ryan LLC has agreed to acquire European tax adviser Svalner Atlas Advisors, according to people familiar with the matter. The acquisition is backed by private equity firms Neuberger and Onex Corp., signaling continued investor confidence in the tax advisory sector despite market volatility. Terms of the deal were not disclosed, but the move represents strategic expansion into Nordic markets.

Tax advisory firms have become attractive targets amid increasing regulatory complexity and cross-border compliance demands. Onex Corp., a Canadian private equity firm, has been actively investing in professional services, while Neuberger brings additional capital backing to support Ryan's growth trajectory. The deal reflects broader trends of consolidation in the professional services industry as firms seek scale advantages.

Svalner Atlas operates across Europe, providing specialized tax advisory services to multinational corporations. For Ryan LLC, this acquisition expands geographic reach and enhances capabilities in international tax structuring. The combination creates a more formidable player in the competitive tax advisory market, particularly for clients navigating post-Brexit and EU regulatory changes.

Professional services M&A activity has accelerated as firms pursue strategic growth through acquisition rather than organic expansion. This deal demonstrates continued appetite among private equity investors for businesses with recurring revenue streams and high barriers to entry. The transaction adds another platform to Onex Corp.'s growing portfolio of advisory businesses.