Multiconsult

Multiconsult and Rejlers have adopted a joint cross-border merger plan to create Multiconsult Rejlers , a pan-Nordic multidisciplinary engineering and consultancy group with nearly 8,000 employees and a market capitalization of approximately SEK 8 billion . 9725 newly issued Rejlers Class B shares for every Multiconsult share . Following completion, existing Multiconsult shareholders are expected to own 54% of the combined company , while Rejlers shareholders will own approximately 46% . Rejlers will be the surviving legal company and Multiconsult will be the transferring company.

The combined business will adopt the Multiconsult Rejlers name and is expected to be dual-listed on Nasdaq Stockholm and Euronext Oslo Børs . The transaction brings together two engineering and consulting businesses with complementary geographic footprints and technical capabilities. , with capabilities spanning buildings and properties, energy and industry, mobility and transportation, and water and environment. Rejlers operates across Sweden, Finland, Norway and the UAE, with expertise spanning energy, industry, buildings, infrastructure and defense-related projects .

Together, the companies expect to create a broader Nordic platform able to pursue larger and more technically complex projects across multiple markets. The combined business would have approximately 7,731 employees , including about 3,700 in Norway, 2,100 in Sweden, 1,000 in Finland and 100 in Denmark. K. 7%. 90 billion of revenue and SEK 367 million of adjusted EBITA. Multiconsult Rejlers intends to pursue long-term financial targets of approximately 10% annual revenue growth and a 10% EBITA margin . The companies expect the merger to generate approximately SEK 100 million to SEK 120 million of annual cost synergies within three years .

Potential savings are expected across areas including IT, procurement, administrative functions, audit and optimization of the companies’ office networks. The companies expect approximately SEK 40 million of one-time integration costs . Management emphasized that the transaction is primarily intended to accelerate growth and revenue opportunities rather than substantially reduce the two organizations. Both businesses are therefore expected to be preserved to a large extent, including their existing local brands and leadership structures. The combined company’s increased scale and balance sheet are also expected to support further investment in artificial intelligence, employee development, acquisitions and geographic expansion .

The companies see opportunities to expand capabilities across architecture and engineering, Arctic services, coastal and harbor engineering, maritime and geotechnical services, oil and gas consulting, and infrastructure work in Finland and Poland. The group is also expected to have a particularly strong position in energy and industrial consulting , along with an expanded ability to serve defense-related projects. Viktor Svensson , currently President and CEO of Rejlers, is expected to become President and CEO of Multiconsult Rejlers. Kristin O.

Augestad , Interim CEO of Multiconsult, is expected to serve as Deputy CEO and Head of Norway. The broader management team is expected to include Jenny Edfast as Head of Sweden, Mikko Vaahersalo as Head of Finland & International, Kristina Jordt Adsersen as Head of Architecture, Anna Jennehov as CFO, Geir Juterud as Head of Digital & AI, Kari Nicolaisen as Head of People & Organisation, and Malin Sparf Rydberg as Head of Communication & Sustainability. The combined company’s headquarters will be located in Stockholm , with a major office in Oslo where several members of the executive management team will be based.

A new CFO is ultimately expected to be recruited and based in Oslo. Long-term ownership will continue to include the Rejler family and Stiftelsen Multiconsult . Following a planned share exchange, Stiftelsen Multiconsult is expected to own approximately 11% of the share capital and 12% of the voting rights , while the Rejler family is expected to hold approximately 8% of the share capital and 25% of the voting rights . The companies have scheduled extraordinary general meetings for October 19, 2026 , when shareholders will vote on the merger. Approval requires support from at least two-thirds of both the share capital and votes represented at each company’s meeting.

Shareholders representing approximately 37% of Multiconsult’s share capital and votes have undertaken to support the transaction. On the Rejlers side, shareholders representing approximately 18% of the share capital and 51% of the votes have committed to vote in favor. Nordea Fonder, Lannebo Fonder and Carnegie Fonder, which collectively represent approximately 31% of Rejlers’ share capital and 19% of its votes , have also expressed support for the merger. The companies expect the transaction to close in late 2026 or early 2027 , subject to shareholder approvals, regulatory clearances and other customary conditions.

The merger is expected to require competition approvals in Norway, Sweden and Poland, along with any applicable foreign investment clearances. If the required conditions have not been satisfied and the merger has not completed by June 30, 2027 , the merger plan will generally cease to have effect unless applicable conditions are waived where legally permitted. DNB Carnegie is serving as financial advisor to Multiconsult, with Wiersholm and Mannheimer Swartling providing legal advice. Handelsbanken is serving as financial advisor to Rejlers, with Setterwalls and Haavind providing legal advice.

Pareto Securities is advising Stiftelsen Multiconsult, with Wikborg Rein serving as its legal advisor. KEY QUOTES: “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.

” Peter Rejler, Chairman of the Board of Directors of Rejlers “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.