mynth
10/2024

Castik Capital takes majority stake in Aider

NORWAY Professional Services / Consulting & Audit / Accounting & Audit EV 1b - 4b NOK

Context

By taking control of the Norwegian competence house Aider, the European private equity fund Castik Capital integrates a rapidly expanding professional services platform that targets an annual and an EBITDA of . Concurrently with this equity restructuring, the acquired corporate entity successfully secured a substantial long-term financing mechanism through a dedicated bond issue totaling NOK 1.6 billion. Strategically, the influx of fresh institutional equity and robust debt capital is strictly allocated to fund a massive structural expansion across the broader Nordic market. The corporate board intends to deploy these new financial resources to aggressively accelerate its established buy-and-build consolidation program, directly targeting further strategic acquisitions within the regional accounting and IT advisory sectors. Additionally, the partnership focuses heavily on scaling the proprietary technological infrastructure and expanding the digital capabilities available to the target's corporate client base. The complex execution of this cross-border financial transaction required the mobilization of a comprehensive syndicate of Tier 1 advisory firms. On the sell-side, the target's founders and executive board mandated Carnegie to act as the exclusive financial advisor, while comprehensive legal structuring for the sellers was managed by Haavind. Conversely, the acquiring private equity sponsor secured extensive buy-side transaction support from a diverse consulting consortium. Arntzen de Besche provided the primary legal counsel for the purchaser, with critical financial due diligence and strategic risk assessments rigorously executed by specialized teams from PwC, William Blair, and Bain & Company. By finalizing this landmark investment, the buyer fundamentally positions its new subsidiary to dominate the regional niche, actively challenging legacy industry structures through superior technological enablement.

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Target

Based in Norway and expanding across the Nordic region, Aider operates as a tech-enabled competence house specializing in accounting, strategic advisory, and IT services. Founded in 2019 by entrepreneurs Andreas Vik and Knut Grotli—who continue to steer the organization as Chief Executive Officer and Chairman respectively—the firm primarily delivers integrated financial solutions to small and medium-sized enterprises. The core business model operates at the intersection of traditional accounting and advanced technological deployment, optimizing complex administrative workflows for corporate clients. Structurally, the group functions as a consolidated platform, having executed a rigorous buy-and-build strategy encompassing fifty distinct acquisitions since its inception. This aggressive expansion framework has systematically built a robust operational infrastructure that currently serves a diverse portfolio of over 9,000 active clients. To support this massive base, the enterprise relies on a highly specialized workforce exceeding 1,100 professionals, notably including a dedicated unit of 100 technologists tasked with driving continuous digital innovation.

Ent. Value

Equity Value

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (NOK)

Year
Rev
EBITDA
EBIT
2024
2023

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REFERENCES

Valuation range: EV 1b - 4b NOK

Revenue range: 1b - 3b NOK

EBITDA range: 250M - 500M NOK

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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Target: aider

Acquirer: castik capital