Multiconsult and Rejlers Merge to Form Leading Pan-Nordic Consultancy

Multiconsult ASA and Rejlers AB (publ) have announced a significant merger that will create a leading pan-Nordic multidisciplinary consultancy group. Under the terms of the merger, each Multiconsult shareholder will receive 0.9725 Rejlers class B shares for every Multiconsult share, resulting in a 54% ownership stake for Multiconsult shareholders and a 46% stake for Rejlers shareholders in the combined company. The new group, named Multiconsult Rejlers, will have close to 8,000 employees and be headquartered in Stockholm with a main office in Oslo.

The merger is designed to strengthen the combined company's market position, particularly in the energy and industrial sectors, and to create a more attractive employer by investing in expertise, learning, and cross-border collaboration. Multiconsult Rejlers expects to realize cost synergies of approximately SEK 100-120 million annually within three years, while also leveraging its strong balance sheet to invest in artificial intelligence, employee development, and further expansion.

According to the press release, Multiconsult Rejlers will have a broad range of capabilities, including engineering, architecture, advisory, and design services. The company will operate in four Nordic home markets, Norway, Sweden, Finland, and Denmark, along with international operations in Poland, the UAE, India, and the UK. The combined entity is expected to deliver revenues of SEK 12 billion and an adjusted EBITA of SEK 795 million for the twelve-month period ending 30 June 2026.

Viktor Svensson, President and CEO of Rejlers, expressed enthusiasm about the merger, stating, "I am very excited to announce this landmark merger and the most significant transformation in the history of Rejlers to date. By combining forces with the highly accomplished consultants at Multiconsult, we will create a larger and stronger multidisciplinary consultancy, enabling us to continue strengthening our market positions in the Nordics."

Kristin O. Augestad, who will serve as the Deputy CEO of Multiconsult Rejlers, added, "Together with Rejlers, we will create new opportunities for collaboration, learning, and professional development for our employees, while offering clients an even broader range of services and capabilities."

The combined group will focus on accelerating growth and profitability, aiming for a 10% revenue growth per annum and a 10% EBITA margin. Arnor Jensen, Chair of the Board of Stiftelsen Multiconsult, commented, "Stiftelsen Multiconsult is strongly supporting the combination with Rejlers as we believe it's the best way to secure the long-term development of Multiconsult, combining the skills of two excellent organisations and establishing a strong strategic position."

The merger is expected to strengthen the group's ability to serve clients across markets and geographies, creating new opportunities for collaboration and growth. With a market capitalization of close to SEK 8 billion, Multiconsult Rejlers will be dual-listed on Nasdaq Stockholm and Euronext Oslo Børs, with Stiftelsen Multiconsult and the Rejler family as committed long-term owners.