Private equity firm GMT Communications Partners has bought the legal and tax accounting businesses of Thomson Reuters in Denmark and Sweden.

Private equity firm GMT Communications Partners has bought the legal and tax accounting businesses of Thomson Reuters in Denmark and Sweden.

The Scandinavian business provides legislation and regulatory information and employs 140 people across three offices.

London-based GMT primarily invests in the European communications industry and has a portfolio of UK businesses including Orion Publishing, Internet Network Services, PacketExhange and Primesight.

Stegan Franssen, partner at GMT, will join the board of the company following the acquisition. Financial details for the deal were not disclosed.

Franssen adds: ‘The [Thomson Reuters] company has a very strong leadership position in its largest segment and has an attractive business model with recurring subscription-based revenues.’

The deal is part of GMT’s plans to grow through acquisitions in the Nordic region, according to a statement released by the business.

Neil Story, managing director of the Thomson Reuters business, comments: ‘We anticipate that through [GMT’s] active support in helping the business expand organically and through selective acquisitions, the business has the potential to grow rapidly.’