Rantalainen

Growth story

Rantalainen grew into the largest accounting services company in Finland

Rantalainen was the fourth largest accounting services provider when Intera Partners invested in the company in 2018. Intera and Rantalainen shared a vision of creating the leading financial management company in the industry. This objective, resulting in more than a 2.5-fold increase in turnover, was successfully achieved by continuing acquisition-driven growth and through significant investments in digitalization, leadership, and sustainability.

Rantalainen’s offering includes financial administration services, payroll, HR, and other financial expert services. When Intera became the majority owner and partner in 2018, the Group’s turnover was approximately EUR 41 million. The Finnish accounting services market was large, growing and stable, but the industry consisted mostly of small, traditional players. The joint vision of Intera and Rantalainen was to create the leading company in the financial administration sector. The target was to reach a turnover of more than EUR 100 million as well as be able to invest in the development of the industry.

Rantalainen’s growth strategy was implemented in Finland both organically and through acquisitions. During Intera’s ownership, Rantalainen’s turnover increased more than 2.5-fold reaching more than EUR 100 million ahead of the original targeted schedule. During the same period, Rantalainen made approximately 60 additional acquisitions, with a strong focus on professional integration processes. These acquisitions also included a successful expansion to Sweden in the summer of 2022.

The success of Rantalainen’s growth strategy was accelerated by the large investments in digitalization and automation. For example, the company has focused on the automation of processes with the help of software robotics and the utilization of artificial intelligence in the processing of purchase invoices. These investments helped achieve significant improvements in service production efficiency, as well as in employee and customer experience. During Intera’s ownership, Rantalainen became Finland’s largest accounting services company, and at the end of 2022 the company employed 1,200 financial management professionals in Finland and Sweden.

“Over the last years, Rantalainen has achieved a leading position in financial administration services in Finland. In addition, the company has developed its technological expertise, HR management capabilities, and customer focused service. These achievements have been possible thanks to our professional employees, customers, and Intera. Along the journey, Intera’s support has been very important, especially in strategic topics, implementing acquisitions, arranging financing as well as in internationalization,” says Jukka Rosenberg, CEO of Rantalainen.

Along with digitalization, sustainability played an important role in Rantalainen’s development. In particular, the company focused on HR management and for example launched a 100% remote work option for employees and invested in extensive training and well-being of its personnel. The ability to grow was also supported by the recruitment of a CEO, CFO and HR Director. In addition to key recruitments, the company has focused on developing the company’s management model and unified operating processes.

Intera exited Rantalainen in March 2023. Rantalainen continues its international growth with the Nordic private equity firm Norvestor as its new majority owner.

“Rantalainen has exceeded the goals we set together at the beginning of our ownership. Significant growth and the first steps in internationalization were achieved with excellent cooperation and a forward-looking attitude. We are delighted that the company now has a great opportunity to take its next steps in internationalization and growth with Norvestor as a partner,” says Juhana Kallio, Managing Partner of Intera.

FACTS

Industry: Financial administration services
Founded: 1972
Investment year: 2018
Exit year: 2023

Key figures at the time of investment:
Turnover: MEUR 41
Number of personnel: 600
Offices: 40

Key figures at the time of exit:
Turnover: >100 MEUR
Number of personnel: 1,200
Offices: 60