Stockholm and Oslo – September 09, 2026 -- Multiconsult ASA and Rejlers AB have agreed a cross-border merger of equals that will create Multiconsult Rejlers, a pan-Nordic multidisciplinary consultancy with close to 8,000 employees and a combined market capitalisation of roughly SEK 8 billion.
Shareholders receive fixed exchange ratio under merger plan
Under the joint merger plan adopted by both Boards, each Multiconsult shareholder will receive 0.9725 Rejlers class B shares for every Multiconsult share held. This gives Multiconsult shareholders 54% ownership of the combined entity and Rejlers shareholders 46%.
Combined group targets SEK 100-120 million in annual cost synergies
The companies expect cost synergies of about SEK 100-120 million annually within three years, achieved through efficiency gains in IT, procurement, administrative functions, audit and office network optimisation. One-off integration costs are estimated at approximately SEK 40 million. Both organisations are expected to be preserved largely intact, with growth driven primarily through revenue synergies.
Nordic footprint spans four home markets with nearly 4,000 employees in Norway
Multiconsult Rejlers will employ approximately 3,700 people in Norway, 2,100 in Sweden, 1,000 in Finland and 100 in Denmark. The group combines more than 4,200 Multiconsult employees with roughly 3,600 from Rejlers, adding capabilities in Building and Properties, Energy and Industry, Mobility and Transportation, and Water and Environment from Multiconsult's side, alongside Rejlers' expertise across energy, industry, building and infrastructure sectors and its presence in Sweden, Finland, Norway and the UAE.
New group will dual-list on Nasdaq Stockholm and Oslo Børs
Multiconsult Rejlers will be headquartered in Stockholm with a main office in Oslo, and will be dual listed on Nasdaq Stockholm and Euronext Oslo Børs. Stiftelsen Multiconsult and the Rejler family will remain committed long-term owners. Viktor Svensson, currently President and CEO of Rejlers, will lead the combined group, with Kristin O. Augestad, interim CEO of Multiconsult, serving as Deputy CEO.
Peter Rejler, Chairman of Rejlers' Board, said the merger of equals creates significant new advantages for both companies. Rikard Appelgren, Chairman of Multiconsult's Board, said Multiconsult shareholders will continue as significant owners in a stronger Nordic group with broader capabilities and greater scale.
Deal strengthens position in energy, defence-related projects
The combined entity is positioned to serve large, transformational Nordic projects, with expanded capabilities in Arctic, coastal/harbour, maritime and geotechnical services, oil and gas sector expertise, and strengthened infrastructure operations in Finland and Poland. The group also plans further investment in artificial intelligence and acquisitions, leveraging its enhanced balance sheet and capital markets position.