Multiconsult and Rejlers to create a leading pan-Nordic multidisciplinary consultancy group through a merger of equals
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STOCKHOLM and OSLO, Norway, Sept. 7, 2026 /PRNewswire/ -- Today, Multiconsult ASA ("Multiconsult") and Rejlers AB (publ) ("Rejlers") announce that their respective Boards of Directors have adopted a joint cross-border merger plan (the "Merger Plan") for the combination of the companies (the "Merger") under which each Multiconsult shareholder will receive 0.9725 Rejlers class B shares for every Multiconsult share, corresponding to 54% ownership for Multiconsult shareholders and 46% ownership for Rejlers shareholders in the combined company.
The new group will be named Multiconsult Rejlers (the "Combined Group"). Multiconsult Rejlers will be a leading pan-Nordic multidisciplinary consultancy group, with a leading position within Energy and Industry and better positioned to deliver continued profitable growth and long-term value creation. The combination will also strengthen its ability to attract, develop and retain highly competent employees. With close to 8,000 employees, the Combined Group will bring together complementary capabilities in engineering, architecture, advisory and design. The Merger will strengthen the group's ability to serve clients across markets and geographies, creating further growth opportunities. In addition, the Merger is expected to generate cost synergies of about SEK 100-120 million on an annual basis within three years. With a market capitalisation of close to SEK 8 billion, Multiconsult Rejlers will have an enhanced position in the capital markets and will be dual listed on Nasdaq Stockholm and Euronext Oslo Børs, with Stiftelsen Multiconsult and the Rejler family as committed long-term owners. For the Combined Group, Viktor Svensson will be President and CEO and Kristin O. Augestad will be Deputy CEO, with headquarters in Stockholm and a main office in Oslo.
BACKGROUND - COMPLEMENTARY STRENGTHS AND STRONG CULTURES
Multiconsult and Rejlers are two successful companies with long histories and strong cultures. Both companies benefit from committed long-term owners, including Stiftelsen Multiconsult and the Rejler family. Multiconsult and Rejlers have proven track records of solid and profitable growth.
The companies are of approximately similar size and a perfect match considering culture as well as complementary geographic strongholds and expertise. Multiconsult brings broad multidisciplinary capabilities, a strong position in Norway and an established presence across Denmark, Poland and the UK. Its offering includes Building and Properties, Energy and Industry, Mobility and Transportation and Water and Environment. Rejlers brings complementary expertise across the energy, industry, building and infrastructure sectors, together with an established presence in Sweden, Finland, Norway and the UAE.
Together, Multiconsult and Rejlers will create a broader pan-Nordic platform with complementary capabilities and enhanced geographic reach. By bringing together more than 4,200 Multiconsult employees and approximately 3,600 Rejlers employees, the combination will create new opportunities for close to 8,000 professionals to collaborate, develop and deliver greater value to clients.
STRATEGIC RATIONALE – POSITIONING FOR ACCELERATED GROWTH AND PROFITABILITY
Multiconsult Rejlers will be well positioned to deliver growth and long-term value creation for its shareholders, while further strengthening its ability to attract, develop and retain highly competent employees.
Key rationale for the Merger:
* Forming a leading pan-Nordic multidisciplinary consultancy group with a particularly strong position within the energy and industrial markets and a strong position towards defence-related projects
* Strengthened position as an attractive employer through investments in expertise, learning, development and cross-border collaboration. Multiconsult Rejlers will create additional opportunities to work on complex and technically demanding projects, while strengthening specialist competences and career opportunities
* Becoming a natural partner for large and transformational Nordic projects through complementary competences and geographies. The increased scale of the Combined Group will strengthen its position towards larger clients and enhance its ability to deliver complex projects across markets and geographies, strengthening the client value proposition. Further, Multiconsult Rejlers offers opportunities to combine architecture and engineering services, expand capabilities within the Arctic, coastal/harbour, maritime and geotechnical services, leverage the combined competence in serving the oil and gas sector and strengthen infrastructure capabilities in Finland and Poland
* Leveraging scale, a strong balance sheet and an enhanced position in the capital market with market capitalisation of close to SEK 8 billion will allow for further investments in Artificial Intelligence, employee development, acquisitions and further expansion
* Realising cost synergies of about SEK 100-120 million on an annual basis through efficiency gains. The Merger is driven by accelerating growth through revenue synergies and both organisations are therefore expected to be preserved to a large extent. Cost synergies are expected within e.g. IT, procurement, administrative functions, audit and optimisation of the office network. The full effects of the synergies are expected to be reached within three years with one-off integration costs of approximately SEK 40 million
Statement from Peter Rejler, Chairman of the Board of Directors of Rejlers
"Multiconsult has, similarly to Rejlers, a long history of profitable growth through delivering valuable services to their clients and we are highly impressed with the journey they have accomplished so far. It is clear that both companies will gain significant new advantages through this merger of equals by creating a leading pan-Nordic multidisciplinary consultancy group. This merger enables both companies to create significant long-term shareholder value. It would be a privilege to continue as a long-term owner together with Stiftelsen Multiconsult in this combined company."
Statement from Rikard Appelgren, Chairman of the Board of Directors of Multiconsult
"The Board believes this merger represents a unique opportunity for Multiconsult shareholders. Together, we are creating a stronger Nordic group with broader capabilities, greater scale and a stronger position in attractive growth markets. The combination will benefit our clients through an enhanced service offering and provide our employees with new opportunities for development and collaboration across the Nordic region. Importantly, Multiconsult shareholders will continue as significant owners in the combined company, which will continue to benefit from committed long-term owners supporting profitable growth for all shareholders."
Statement from Viktor Svensson, President and CEO of Rejlers and Multiconsult Rejlers
"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. I believe that this is a perfect match of two already successful equals where both companies will complement each other. We will broaden our geographic reach, accelerate the development of our technical expertise, and improve our value proposition for both our clients and our people.
As the President and CEO of the new group, I very much look forward to working with the new combined management team of the group and all the fantastic employees of Multiconsult and Rejlers."
Statement from Kristin O. Augestad, Interim CEO of Multiconsult and Deputy CEO of Multiconsult Rejlers
"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. Multiconsult will continue to play an important role in the combined group, with a main office in Oslo and several members of the executive management team based there. As we move towards completion, our focus will remain on delivering solutions that provide high value for clients and society."
Statement from Arnor Jensen, Chair of the Board of Stiftelsen Multiconsult
"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. Stiftelsen Multiconsult will remain a committed, long-term shareholder in Multiconsult Rejlers, and we look forward to working together with the new owners to ensure the successful growth of the company."
THE COMBINED GROUP - MULTICONSULT REJLERS
Multiconsult Rejlers will be a pan-Nordic multidisciplinary consultancy group with four Nordic home markets with c. 3,700 employees in Norway, c. 2,100 in Sweden, c. 1,000 in Finland and c. 100 in Denmark.