PwC in Norway sells parts of its business to IK Partners and local partners

PwC in Norway has announced the sale of parts of its audit and advisory business to IK Partners, a leading European private equity firm, and re-investing local PwC partners. The agreement includes 20 offices, 20 partners and 260 employees, delivering audit, consulting, and legal services. This transaction positions the new company as the second-largest independent audit and advisory firm in its market.

A strategic step for the future

– This decision is a key part of PwC in Norway’s strategy to help large and medium-sized businesses succeed in a complex and changing world. By focusing on our leading expertise in audit, strategy, transaction and transformation advisory, and legal services, we aim to make a greater impact, says Leif Arne Jensen, Senior Partner and CEO of PwC in Norway.

– To remain a leader both in Norway and globally, we must concentrate our efforts and investments on the areas where we can excel in the future. This agreement enables us to better support large and medium-sized businesses in building trust and adapting to a world shaped by geopolitical fragmentation, climate change, and technological disruption. Our goal is to act as a catalyst for positive change, Jensen adds.

Following the transaction, PwC Norway will consist of seven offices located in Oslo, Bergen, Trondheim, Stavanger, Kristiansand, Tromsø, and Sandefjord, with more than 2,200 employees and 160 partners.

A new chapter for local expertise

The new company will provide audit, consulting, and legal services to local and non-regulated clients across Norway. With the backing of IK Partners, the company plans to make significant investments in technology and efficiency while pursuing growth through acquisitions in the fragmented Norwegian and Nordic markets.

Erik Sønsterud, who brings twelve years of experience from PwC, will serve as CEO of the new company. He is eager to build on the company’s strong foundation:

– We see great value in the opportunity to collaborate with IK Partners. With their experience and financial strength, we aim to become the leading player in our segment in the Norwegian market, attract new talent, and deliver high-quality services to our clients. Together, we have ambitious goals, making this an exciting opportunity for both our employees and our clients, says Sønsterud.

– With IK Partners as the new owner, the company will have a solid platform to grow and evolve in line with market needs. Together with local partners and skilled employees who know their markets well, the company will be able to offer streamlined and tailored services to its clients, concludes Leif Arne Jensen.

The 20 offices becoming part of the new company are located in Askim, Bodø, Brønnøysund, Drammen, Egersund, Florø, Førde, Hamar, Haugesund, Lillehammer, Mo i Rana, Molde, Mosjøen, Måløy, Sandane, Sarpsborg, Sogndal, Stryn, Ulsteinvik, and Ålesund.