Fredag 27. juni 2025
Longship becomes a significant minority investor in leading SME-focused audit group
A new powerhouse is being established in Norway to champion the needs of small and medium-sized enterprises (SMEs), with the announcement today that audit firms BHL, Grant Thornton, and Nitschke are joining forces to create a market leading group dedicated to SME’s, uniting under the Grant Thornton brand over time.
Upon completion of the transaction, backed by leading Norwegian private equity firm Longship, the newly formed group will become one of the largest providers of audit services for SMEs in Oslo and Eastern Norway. With deep local roots and a strong regional presence, approximately 125 skilled partners and employees in the new group are poised to fill a growing gap in the market.
“As the largest audit firms pivot toward large clients, many SMEs are left seeking new service providers. This presents a unique opportunity to build a market-leading firm that offers both specialized expertise and personalized service,” says Øystein Fusdahl, Partner and CEO in Nitschke.
“This merger allows us to invest more in attracting and retaining top talent, while also expanding our capabilities in technology and service innovation,” Jan Møller, Managing Partner in Grant Thornton, adds.
A unique opportunity in the SME segment
The Norwegian private equity firm Longship is joining as a strategic partner and significant minority investor to support the development of this new SME-focused group.
“The SME audit market in Norway has long been fragmented and underinvested. We’re now seeing the same consolidation trend that has reshaped the US and European markets. Interest from other firms who would like to join this initiative is already growing, making this the ideal time to establish a strong, Norwegian SME-focused player,” says Erik Rian Johannessen, CEO of Longship.
The firms will initially continue operating under their existing names as they collaborate closely to enhance and expand their service offerings — including audit, insolvency and bankruptcy, tax and VAT, and accounting services.
“SMEs care most about service quality. Smaller firms often struggle to invest in service development, but this new group will prioritize continuous improvement while maintaining close client relationships,” says Lars Bakketun, Partner and CEO in BHL.
The transaction is subject to regulatory approvals and other customary conditions.
For more information, please contact:
Erik Rian Johannessen, CEO, Longship
+47 90543869
erik.johannessen@longship.no
About Longship:
Longship is a Norwegian private equity investor established in 2015 by an experienced team of investment professionals. Longship invests in companies with significant growth potential in the Norwegian lower mid-market, and are applying a transformational growth approach, organically and through M&A. The investment team currently consists of 14 professionals, making it the leading player in the Norwegian lower mid-market.