By Global Consultants Review Team ,
Multiconsult ASA and Rejlers AB have announced plans to merge in a merger of equals, creating a larger Nordic multidisciplinary consulting group called Multiconsult Rejlers.
The proposed combination will bring together close to 8,000 employees and create a group with combined annual revenues of approximately SEK 12 billion.
The companies said the merger will strengthen their capabilities across the Nordic consulting and engineering markets.
Under the proposed transaction, Multiconsult shareholders will receive 0.9725 Rejlers Class B shares for each Multiconsult share. Following completion, Multiconsult shareholders are expected to own approximately 54% of the combined company, while Rejlers shareholders will hold around 46%. The new group will be headquartered in Stockholm, with its main office in Oslo. The company is expected to remain dual-listed on Nasdaq Stockholm and Euronext Oslo Børs.
The merger is designed to combine the strengths, geographic reach and technical expertise of both businesses rather than position one company as the buyer of the other.
The combination is expected to create a broader consulting platform covering areas including energy, industry, infrastructure and technology.
Both companies already have strong positions in complex technical and engineering projects. Their combined capabilities are expected to help the new group compete for larger projects across the Nordic region.
The companies also highlighted opportunities in areas connected to the energy transition, industrial development and defence-related projects, where demand for specialist consulting expertise continues to grow.
The combined company is expected to generate approximately SEK 12 billion in revenue, with adjusted EBITA of around SEK 795 million, based on the 12 months ended June 30, 2026.
The companies expect the merger to generate annual cost synergies of approximately SEK 100 million to SEK 120 million within three years.
Beyond cost savings, the companies expect the merger to create opportunities to expand services, strengthen expertise and improve their ability to serve clients across multiple Nordic markets.
Viktor Svensson, President and CEO of Rejlers, will become President and CEO of the combined Multiconsult Rejlers.
Commenting on the proposed merger, he said:
“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.” — Viktor Svensson, President and CEO of Rejlers and incoming President and CEO of Multiconsult Rejlers
Strong regional balance : Multiconsult brings a stronger position in Norway, while Rejlers has a stronger presence in Sweden and Finland. The combination is designed to balance their geographic strengths across the Nordic market.
Existing brands will largely remain : The companies plan to retain their current local brands to a large extent, while operating under the new Multiconsult Rejlers group structure. The planned organisational changes are expected to be implemented during 2027.
The merger is expected to give the combined company a stronger geographic footprint across the Nordic region.
The companies are targeting 10% annual revenue growth and a 10% EBITA margin, reflecting their ambitions for the new group.
For clients, the combination could provide access to a wider range of technical specialists and consulting services through one larger organisation. For employees, the companies expect the broader platform to create additional opportunities for professional development and collaboration.
The proposed merger is not yet complete. Shareholders of both companies are expected to vote on the transaction at extraordinary general meetings scheduled for October 19, 2026.
The transaction requires the necessary shareholder approvals and other regulatory conditions before it can proceed.
Subject to these approvals, the companies currently expect the merger to be completed in late 2026 or early 2027.
The proposed Multiconsult-Rejlers merger represents a significant consolidation in the Nordic consulting and engineering sector.
With close to 8,000 employees, approximately SEK 12 billion in combined revenues and operations spanning important areas such as energy and industry, the new group would have considerably greater scale than either company operating independently.
The merger also reflects a wider trend in the consulting industry, where companies are seeking greater scale, specialised expertise and stronger regional capabilities to meet increasingly complex client requirements.
If completed, Multiconsult Rejlers would become a major multidisciplinary consulting platform in the Nordic market, combining the experience and capabilities of two established businesses while targeting further growth across the region.
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