Nordic group Enora buys UK's Ellacotts, adding €12M revenue in first move abroad
What's the deal? Finland-based RAN Group has rebranded as Enora Group and acquired EllacottsDealroom has a profile for this one. Try Dealroom →, a top 100 UK accountancy firm, in its first expansion outside the Nordics. The deal was announced on November 6, 2026. Terms were not disclosed.
What each side brings: Enora provides accounting, payroll and advisory services and now counts around 3,000 staff across more than 100 locations, serving about 50,000 clients with pro-forma revenue of roughly €360 million. Founded in the 1960s and headquartered in Banbury, Ellacotts runs five offices across the Midlands and London, employs over 110 people and adds revenue of about €12 million (£10.2 million).
What's the endgame? The new brand unites the group's companies under one identity — Enora in Norway and Sweden, RantalainenDealroom has a profile for this one. Try Dealroom → in Finland and Ellacotts in the UK — as it aims to become a European tech-enabled full-service partner. Ellacotts will keep its existing leadership and gives the group an established UK platform for further growth.
Why now? NorvestorDealroom has a profile for this one. Try Dealroom → became majority owner of RAN Group in 2023, when it had around €100 million in revenue and 1,200 employees. Since then, the group has more than tripled in size through a Nordic buy-and-build strategy, including deals for Klara ConsultingDealroom has a profile for this one. Try Dealroom → in Sweden plus Value GroupDealroom has a profile for this one. Try Dealroom → and BDO's Business Services division in Norway.
Alongside the UK move, the group is consolidating its Nordic brands: the Klara Consulting name disappears in Sweden as roughly 30 offices rebrand to Enora.
"Ellacotts is a strong first step into the UK," said Fredrik Korterud, partner at Norvestor. Chief executive officer Veronica Rörsgård added that the deal gives Enora "a strong foundation in the British market."
The signal: The purchase marks a shift from Nordic roll-up to wider European growth, landing amid brisk consolidation in UK accountancy, where investor-backed groups such as SumerDealroom has a profile for this one. Try Dealroom →, AffiniaDealroom has a profile for this one. Try Dealroom → and DJH are pursuing acquisitions. The undisclosed price makes the financial impact hard to assess, but strategically it opens a large new market for the group — and a UK base for Nordic clients operating in Britain.
Read more: norvestor.com
Image credit: Queensland State Archives
