RAN Group Oy is continuing its strong growth in the Nordics by acquiring the accounting business operations of BDO AS Norway. The acquisition is an important step in RAN Group’s strategy to become the leading provider of financial management and payroll administration services in the Nordic region.
RAN Group (“Rantalainen”) has acquired the Business Services service area from BDO AS in Norway. This adds approximately 600 experts and revenue of nearly EUR 90 million (over NOK 1 billion) to strengthen RAN Group’s position in the Nordics. The combined group will serve nearly 40 000 customers with more than 2,700 experts across 100 locations, and the group’s pro forma revenue will rise to EUR 310 million.
Business Services is one of Norway’s largest providers of financial management and payroll administration services. The business is currently a business line of Norwegian BDO AS and will be established as an independent platform within RAN Group. Business Services will add a strong presence in the enterprise and mid-market segments, complementing RAN Group’s existing focus on SMEs.
The existing management team, led by Karl-Ludvig Mauland, will continue to drive the business forward, with a strategic focus on digitalization, automation, and advisory services.
“Joining RAN Group is an important milestone for our team. We are pleased to become part of a group that truly values the expertise and dedication of our employees and will provide them with new opportunities for growth and Nordic collaboration. With the backing of a strong group, we can continue to serve our clients with the same professionalism as before and develop our business into an even more innovative and digital direction. We look forward to building the future together as part of RAN Group”, says Karl-Ludvig Mauland, incoming head of Business Services.
“This is a significant step for RAN Group’s position and growth in Norway and enables even more extensive Nordic collaboration. The talented professionals of Business Services and their expertise in enterprise customers will expand our ability to support customers of all sizes. Our combined strengths will allow us to further invest in digital solutions and deliver even more comprehensive services to our clients across the Nordics”, says Jukka Rosenberg, CEO of RAN Group.
“This transaction is natural continuation to the strategy we have set for RAN Group – to build a leading, pan-Nordic platform in financial management and payroll services. As owners, we are fully committed to supporting RAN Group as it embarks on this path. We see this as an important milestone in our long-term vision, strengthening the foundation for continued growth, innovation, and value creation across the Nordics”, says Marika af Enehjelm, Chair of the Board of RAN Group and Partner at Norvestor Advisory.
The transaction is expected to close during Q4 2025, following the completion of a carve-out from BDO AS and subject to customary closing conditions.
Additional Information
Jukka Rosenberg, CEO, RAN Group, Tel. +358 50 311 2194, Email: jukka.rosenberg@rantalainen.fi
RAN Group is the leading Nordic accounting group. RAN Group consists of Rantalainen in Finland, Value Group in Norway, Ålands Företagsbyrå in Åland and Klara Consulting and Win Win Ekonomi in Sweden. The Group employs over 2,000 financial and payroll management professionals at a total of more than 100 locations in Finland, Sweden and Norway. The Group’s turnover is about EUR 220 million (pro forma 06/2025). The Group is owned by the Nordic private equity company Norvestor Advisory, the Group management and key employees. More information at www.rantalainen.fi/en
BDO is an international advisory and audit firm with strong presence in Norwegian society and business. In 2024, BDO generated revenues of NOK 3.3 billion and operates from 50 offices across the country. Globally, BDO is present in 164 countries and employs more than 111,000 professionals. Business Services delivers solutions within accounting, payroll, finance operations, digitalization, and business support. The unit supports everything from small local companies to large international players through a global network. Business Services comprises approximately 600 employees, is present at 30 locations nationwide, and generates revenues of around NOK 1 billion.
Norvestor Advisory is a leading private equity company focusing on mid-market buyouts in the Nordic region. The team has worked together since 1991, making it one of the most experienced private equity teams in the Nordics, having executed 98 investments with >600 add-on acquisitions, in addition to executing 66 exits, including 16 IPOs. The Norvestor Funds seek to invest in growth companies in the Nordic mid-market that have the potential to achieve a leading Nordic or international position, typically through organic growth, acquisitions across fragmented industries or by geographic expansion. Read more at www.norvestor.com