OSLO: Multiconsult ASA and Rejlers AB have agreed to combine in a cross-border merger, creating a pan-Nordic multidisciplinary consultancy group with nearly 8,000 employees and a market capitalization of approximately 8 billion Swedish kronor, the companies announced Monday.

Under the joint merger plan approved by both boards, Multiconsult shareholders will receive 0.9725 Rejlers Class B shares for each Multiconsult share, resulting in Multiconsult shareholders owning 54% of the combined company and Rejlers shareholders holding 46%.

The new entity will be named Multiconsult Rejlers and will be dual-listed on Nasdaq Stockholm and Euronext Oslo Børs. The merger is expected to generate annual cost synergies of 100 million to 120 million Swedish kronor within three years, with one-time integration costs estimated at approximately 40 million kronor.

Viktor Svensson, currently president and CEO of Rejlers, will serve as president and CEO of the combined group. Kristin O. Augestad, interim CEO of Multiconsult, will become deputy CEO. The headquarters will be based in Stockholm, with a main office in Oslo.

Complementary Strengths

The companies, which are of similar size, bring complementary geographic strongholds and expertise. Multiconsult, with more than 4,200 employees, has a strong position in Norway and established operations in Denmark, Poland and the United Kingdom. Its offerings span building and properties, energy and industry, mobility and transportation, and water and environment.

Rejlers, with approximately 3,600 employees, brings complementary expertise across energy, industry, building and infrastructure sectors, with an established presence in Sweden, Finland, Norway and the United Arab Emirates.

The combined group will have roughly 3,700 employees in Norway, 2,100 in Sweden, 1,000 in Finland and 100 in Denmark, along with international operations including 400 in Poland, 300 in the UAE and 60 in India and the UK.

Strategic Rationale

The merger positions Multiconsult Rejlers as a leading pan-Nordic consultancy with a particularly strong presence in energy and industrial markets, as well as defense-related projects, the companies said.

Executives emphasized the combination would strengthen the group’s ability to attract and retain talent, serve larger clients, and pursue complex transformational projects across the Nordic region.

“This merger enables both companies to create significant long-term shareholder value,” said Peter Rejler, chairman of Rejlers’ board. “It would be a privilege to continue as a long-term owner together with Stiftelsen Multiconsult in this combined company.”

Rikard Appelgren, chairman of Multiconsult’s board, called the merger “a unique opportunity for Multiconsult shareholders,” adding that the combined company would benefit from committed long-term owners supporting profitable growth.

Integration and Leadership

Both organizations will be largely preserved under their current local brands and leadership, with a clear focus on country-level profit and loss while capturing revenue and cost synergies, the companies said. A new chief financial officer will be recruited and based in Oslo, and additional group functions will be divided between Stockholm and Oslo.

Arnor Jensen, chair of the board of Stiftelsen Multiconsult, said the foundation strongly supports the combination, calling it “the best way to secure the long-term development of Multiconsult.”

Svensson described the merger as “the most significant transformation in the history of Rejlers to date” and a “perfect match of two already successful equals.”

The transaction remains subject to customary regulatory approvals and other closing conditions.