Olswang's technology, media and telecommunications corporate finance house LongAcre has moved into Sweden with the acquisition of Lommen Corporate Finance.
`The acquisition marks the first step in LongAcre's European expansion. Olswang chief executive Jonathan Goldstein said: "LongAcre was launched with the intention to build a pan-European corporate finance house. The London business is doing exceptionally well and we've branched into Sweden. This validates the business plan."`LongAcre's first joint transaction with Lommen is the sale of Pan Interactive to Scandinavian media group KF Media. Olswang does not have an exclusive referral arrangement with LongAcre and the pair only completed their first joint deal last month. Goldstein said: "This is far more the development of a separate business in which Olswang is a share holder."`LongAcre was set up last year. Olswang partners have a 60 per cent share while JP Morgan is the other principal shareholder.