RAN Group becomes Enora Group and expands into the UK with the acquisition of Ellacotts
RAN Group becomes Enora Group and expands into the UK with the acquisition of Ellacotts
RAN Group Oy, a leading Nordic provider of accounting, payroll and advisory services, today launches Enora Group as its new group brand. At the same time, the Group announces the acquisition of Ellacotts, a top 100 UK accountancy firm, marking its first expansion outside the Nordics.
The new name unites the Group’s companies under one identity and reflects its ambition to become a leading European tech-enabled full-service partner for accounting, payroll and adjacent advisory services. Enora Group will operate under the Enora brand in Norway and Sweden, Rantalainen in Finland and Ellacotts in the UK.
Norvestor became the majority owner of RAN Group in 2023, when the company was Finland’s largest provider of outsourced accounting and payroll services, with revenues of around EUR 100 million and 1,200 employees. Since then, the Enora Group has pursued a pan-Nordic buy-and-build strategy, including the acquisitions of Klara Consulting in Sweden and of Value Group and BDO’s Business Services division in Norway, alongside continued investment in digital services and technology.
Enora Group now counts around 3,000 experts across more than 100 locations, serves about 50,000 clients and has pro forma revenues of approximately EUR 360 million.
Founded in the 1960s and headquartered in Banbury, Ellacotts operates through five offices across the Midlands and London and provides tax, accounting, audit and adjacent services. Its client base ranges from agricultural and private clients to owner-managed businesses and international companies. Ellacotts adds revenue of approximately EUR 12 million (GBP 10.2 million) and will continue to operate under its existing leadership team.
The UK is one of Europe’s largest professional services markets, and Ellacotts gives Enora Group an established local platform for further growth in the country. Ellacotts’ clients will in turn benefit from the Enora Group’s scale and its continued investment in people, systems and technology, including artificial intelligence.
“Over the past three years, the Enora Group has grown from a leading Finnish provider into a true pan-Nordic platform, more than tripling in size through disciplined acquisitions and continued investment in technology. Enora Group gives the companies a shared identity for the next phase, and Ellacotts is a strong first step into the UK. As owners, we remain fully committed to supporting management in building a leading European partner for accounting, payroll and advisory services,” says Fredrik Korterud, Partner at Norvestor.
“Enora Group brings our companies together under one name and one shared ambition. With Ellacotts joining the Enora Group, we are taking our first step outside the Nordics together with a highly respected firm that shares our commitment to quality and close client relationships. We look forward to building on this foundation with our new colleagues in the UK,” says Veronica Rörsgård, CEO of Enora Group.
Enora Group is the leading tech-enabled full-service partner, uniting trusted accounting, premium advisory and modern technology across platforms. The Group supports companies with accounting, payroll, audit and advisory services that help clients improve efficiency, strengthen decision-making and develop their business. Enora Group operates under the brand name Enora in Norway and Sweden, Rantalainen in Finland and Ellacotts in the UK. The Group employs 3,000 professionals across more than 100 locations, with pro forma revenue at its current perimeter expected at circa EUR 360 million in 2026. The Group is owned by funds managed by Norvestor, the Group management and key employees. More information at www.enoragroup.com
Norvestor is a leading private equity company focusing on mid-market buyouts in the Nordics and adjacent regions. The team has worked together since 1991, making it one of the most experienced private equity teams in the Nordics, having executed 103 investments with more than 800 add-on acquisitions, in addition to executing 68 exits, including 16 IPOs. The Norvestor funds seek to invest in ambitious growth companies that have the potential to achieve a leading position in the Nordics and beyond, typically through organic growth, acquisitions across fragmented industries or by geographic expansion. Read more at www.norvestor.com
