Norvestor partners with legal tech solution provider PSA
Norvestor Nova I SCSp (“Norvestor Nova I”) has signed an agreement to acquire the majority of the shares in PSA Solutions AS ("PSA" or "the Company"), a Norwegian legal tech solution partner for top-tier law firms and corporate legal departments.
Founded in 2017 and headquartered in Oslo, PSA develops, offers and implements mission-critical Software as a Service (“SaaS”) solutions for top-tier law firms, corporate legal departments, and other professional services organisations. The Company has established itself as a leading player in the Nordic legal market and is experiencing strong growth, driven by new customer acquisitions and the ongoing digitalisation of the legal industry, including the increasing adoption of artificial intelligence applications.
PSA’s product offering includes its Custodian suite of proprietary software applications and a carefully selected portfolio of third-party SaaS software from leading global legal tech software vendors such as iManage, TIQ Time, Deltek, Litera, and Novaplex. The software is sold on a subscription basis, and PSA consistently receives positive feedback from its customers on services delivered. The Custodian suite comprises the Custodian integration Platform as a Service (“iPaaS”), Custodian Client Onboarding, and Custodian SmartApps. The Custodian iPaaS is a distinct product in the legal market, serving as the integration and automation layer between the various software applications and services used by top-tier law firms.
“On behalf of PSA, I would like to extend my gratitude to all our dedicated employees, whose hard work has been instrumental in our success and to our valued customers, whose support and trust have been pivotal in our journey. I am delighted to have Norvestor joining us as a new majority owner-partner, as they have demonstrated a clear understanding of our products, markets and customers. We now look forward to utilising Norvestor’s expertise and experience in developing Nordic technology companies to accelerate PSA’s growth in existing and new markets”, says Martin Flatsetø, Co-Founder and CEO of PSA.
"Norvestor has a long and successful track record of investing in software and IT services companies and in PSA has found a legal tech business that advances the ongoing modernisation of the law firm tech stack. PSA has taken a leading position as the preferred legal tech partner for top-tier law firms and corporate legal departments in the Nordics, demonstrating its ability both to develop proprietary legal tech software and to deliver and service the complete suite of third-party applications and services used by the industry. We look forward to working together to further grow and scale PSA’s offering and position” says Georg Enderlein, Norvestor Partner and incoming Chair at PSA. “The legal industry is experiencing several positive tailwinds and significant transformation from trends such as accelerating digitalisation, cloud transformation, and adoption of AI. We are very impressed with what PSA has accomplished and are thrilled to be Martin’s and the team’s chosen partner for PSA’s next phase of development and growth” continues Jonas Kaldahl, Investment Manager at Norvestor Advisory.
Following the acquisition, Norvestor will become the largest shareholder in PSA, followed by the Company’s management and key employees. All the previous employee-owners have reinvested into the new partnership.
The transaction is in line with Norvestor’s focus on acquiring and scaling outstanding mid-market companies in the Nordic region. The transaction was closed on 30 April 2025.
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For further information:
Georg Enderlein, Partner, Norvestor Advisory
Mobile: +46 73 069 5161
E-mail: georg.enderlein@norvestor.com
Jonas Kaldahl, Investment Manager, Norvestor Advisory
Mobile: +47 408 85 300
E-mail: jonas.kaldahl@norvestor.com
Martin Flatsetø, CEO, PSA Solutions AS
Mobile: +47 900 81 884
Email: martin@psasolutions.com
PSA is a Norwegian legal tech partner specialising in serving top-tier law firms and corporate legal departments. The Company develops, offers, integrates and implements both proprietary and third-party mission-critical software solutions for leading law firms and other professional services firms throughout the Nordics. PSA is an official reseller and systems integrator partner of leading legal tech solution providers such as iManage, TIQ Time, Deltek, Docusign, LexisNexis Create+ (formerly Henchman), LawVu, Litera, Sysero and Novaplex. Headquartered in Oslo, Norway, PSA employs 29 people across its operations in Oslo, Stockholm, Warsaw, and Helsinki. Read more at: https://psasolutions.com/
Norvestor 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 96 investments with >500 add-on acquisitions, in addition to executing 61 exits, including 16 IPOs. The Norvestor Funds seeks 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