Norvestor invests in accounting and payroll services provider Rantalainen


Norvestor VIII SCSp (“Norvestor VIII”), has signed an agreement to acquire the majority of the shares in Rantalainen Group Oy (“Rantalainen” or “the Company”), a leading Nordic full-service provider of outsourced accounting and payroll services.

Rantalainen is the largest financial administration services provider in Finland, serving 20,000 SMEs within a fragmented Nordic business process outsourcing market. The Company’s services comprise outsourced accounting and bookkeeping services, payroll administration and HR services as well as expert services. Rantalainen, founded in 1972, employs circa 1,200 professionals across 60 different locations in Finland. In June 2022, Rantalainen expanded to Sweden by acquiring a Stockholm-based accounting company with the aim to pursue further geographical expansion in the Nordics.

“We are thrilled to partner up with Rantalainen. We hold in high regard the long history and highly competent organization of the Company. A great base has been built over the past years, lastly by Jukka and his team, strengthening both the platform and the market position of the Company. Rantalainen is now ready for its next phase, and we believe this is a good match with Norvestor’s experience in supporting business services companies with a strong drive and ambitious Nordic growth plans. We look forward to establishing a Nordic leader within financial administration services” says Marika af Enehjelm, Partner at Norvestor Advisory.

“We have to date achieved the position as a leading financial administration services provider in Finland. I am delighted to have Norvestor now joining us as a partner, and we look forward to continuing our growth journey together. With Norvestor’s contribution, we will continue strengthening our value proposition to our customers, investing especially in digital capabilities. We will also continue pursuing our buy-and-build strategy, now increasingly on a pan-Nordic level” says Jukka Rosenberg, CEO of Rantalainen.

Rantalainen is headquartered in Hyvinkää, Finland with revenues of more than EUR 100 million in 2022.

Following the acquisition from Intera Fund III Ky and Oona Capital, Norvestor will become the largest shareholder in Rantalainen, followed by the Company’s management and key employees.

The transaction is expected to close during Q1 2023, subject to customary closing conditions.


For further information:

Marika af Enehjelm, Partner, Norvestor Advisory

Tel: +358 40 553 6934


Jukka Rosenberg, CEO, Rantalainen Group

Tel: +358 50 311 2194


Rantalainen Group is Finland's largest financial administration services company, employing 1,200 financial and payroll administration professionals. The group offers comprehensive and modern financial administration services to companies and other organizations of all sizes locally. Rantalainen's customer base consists of about 20,000 companies and associations. The Group has more than 60 offices in Finland and Sweden and revenues of more than 100 million euros. The company was founded in 1972. Read more at

Norvestor is a leading private equity firm focusing on mid-market buyouts in the Nordic region with offices in Oslo, Stockholm, Helsinki, Copenhagen and Luxembourg. The team has worked together since 1991 making it one of the most experienced private equity teams in the Nordics, having executed 82 investments with more than 350 follow-on M&A transactions, in addition to executing 58 exits including 16 IPOs. The Norvestor funds seek to invest in growth companies in the Nordic mid-market that have potential to achieve a leading Nordic or international position, typically through organic growth, acquisitions across fragmented industries and by geographic expansion. Read more at