Ardian supports Norvestor’s acquisition of Rantalainen


Press release

Ardian supports Norvestor’s acquisition of Rantalainen

  • 06 February 2023

  • Private Credit

  • Finland, Helsinki

6 minutes de lecture


Ardian, a world-leading private investment house, has provided financing to support Norvestor’s acquisition of Rantalainen, 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. Due to its business-critical service and close relationships with its customers, the business has close to a 100% net revenue retention, with low customer churn.

The Private Credit team at Ardian provided unitranche financing coupled with a Committed Acquisition Facility that can be drawn on to support Rantalainen’s growth ambitions. The transaction continues the long-standing relationship between Norvestor and Ardian.

“Rantalainen provides business critical services to a highly granular and diverse client base, positioning it as the market leader in Finland and a highly attractive investment. The financing structure is an example of our ability to deliver a flexible and tailored solution, which will support the company’s ambitious acquisition plans in the Nordic region. We look forward to supporting the company’s growth and we are pleased to be backing Norvestor again, continuing to build our close sponsor relationships within a region of growing importance”. Stuart Hawkins, Head of Private Credit UK, Ardian

“Rantalainen has built a solid foundation in recent years, strengthening both the platform and the market position of the Company. Rantalainen is now ready for its next phase, and Ardian is the right financing partner for us as we embark on that journey. With Ardian’s backing, we look forward to establishing a Nordic leader within financial administration services”. Marika Af Enehjelm, Pertner, Norvestor Advisory

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



Ardian is a world-leading private investment house, managing or advising $140bn of assets on behalf of more than 1,400 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian is majority-owned by its employees and places great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1000+ employees, spread across 16 offices in Europe, the Americas, Asia and Middle East, are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility. At Ardian we invest all of ourselves in building companies that last.

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