Commercial, corporate and M&A in Norway


BAHR fields an excellent corporate and M&A practice, which is ‘very solution oriented‘ and has particular expertise in private equity transactions as well as sector-specific knowledge in the oil and energy, real estate and infrastructure industries. Practice head Øystein Guvåg specialises in M&A transactions and private equity matters, while Lars Kristian Sande is the deputy head of the practice and an expert in advising both private equity and industrial investors on telecoms and technology transactions. Svein Gerhard Simonnæs, Robin Bakken and Lars Knem Christie are all key contacts for public M&A. The group also includes the private equity expert Børre Sofus Arnet, Jon Christian Thaulow, who is particularly experienced in the energy related industries, and Erik Langseth, who focuses on M&A and real estate transactions. Anne Dahl Frisak, who particularly focuses on M&A within the shipping, aquaculture and offshore sectors, is also a key practitioner.

Practice head(s):

Øystein Guvåg; Lars Kristian Sande

Other key lawyers:

Svein Gerhard Simonnæs; Robin Bakken; Børre Sofus Arnet; Jon Christian Thaulow; Erik Langseth; Lars Knem Christie; Anne Dahl Frisak


‘They are always there to help when we need it.’

‘They have a unique knowledge of our company.’

‘Very good and professional team. Nice and down to earth people that are very solution oriented, which is surprisingly unique.’

‘High competence on our industry. Focused on business impact. Flexible and proactive in making sure all key tasks are handled.’

Key clients

Arctic Securities

Aker, including its affiliates, Aker Solutions, Aker BP, Aker Energy, Aker Horizons

SalMar ASA

Explore Equity

Norvestor Equity (and portfolio companies)


HitecVision (and portfolio companies)


Turnstone Private Equity


Equip Capital



DNB Bank


Work highlights

  • Advised an investor consortium consisting of Hafslund Eco AS, HitecVision and Infranode on the acquisition of Fortum’s 50% stake in Fortum Oslo Varme AS (now Hafslund Oslo Celsio AS), the largest supplier of district heating in Norway.
  • Advised Aker Solutions on its agreements with SLB (formerly Schlumberger) and Subsea7 to combine Aker Solutions’ and SLB’s subsea oil and gas businesses into a joint venture to be owned by Aker Solutions, SLB and Subsea 7.
  • Advised SalMar on a large and complex public M&A transaction, involving five listed companies, and resulting in a major structural change to some of Norway’s largest salmon farming companies.

Advokatfirmaet Schjødt AS

The commercial, corporate and M&A team at Advokatfirmaet Schjødt AS is ‘hands-on and professional with a can-do attitude’, and has particular expertise in cross-border and public-to-private transactions. The practice is co-headed by Tord Fondevik, who is ‘a machine when it comes to execution power' and regularly acts for blue-chip companies, private equity funds and founders, particularly in the life sciences sector; and private equity specialist Robert Romansky. The group also includes Knut Smith-Erichsen, who co-heads the transactions department and is highly knowledgeable in private equity mandates and industrial M&A; Dag Sigvart Kaada, who assists private equity and blue-chip companies on matters relating to the technology, energy and oil and gas sectors; and Jon Kristian Sjåtil, who focuses on M&A and capital markets transactions. The ‘highly competentChristoffer Bjerknes, who regularly assists private equity sponsors with investments, is also a key contact.

Practice head(s):

Tord Fondevik; Robert Romansky

Other key lawyers:

Knut Smith-Erichsen; Dag Sigvart Kaada; Jon Kristian Sjåtil; Christoffer Bjerknes


‘The team provides a very high service level, and is knowledgeable and commercially minded.’

‘When it comes to M&A, all you want is execution. It’s not an intellectual game to show off. There’s no an alternative score card for writing great memos. Can you get the deal done, or not. That’s it. And that’s why I use Schjødt. They’ve shown me, time and time again, that they can get it done. I’m never in doubt about the execution capabilities. It doesn’t matter which obstacle they face. They will overcome it.’

‘Their professional knowledge is of very high quality and their capacity is high. The team is always available.’

‘Professional people with various expertise areas.’

‘Hands-on and professional with a can-do attitude. Understands business and pragmatic.’

‘The team has qualities in all the areas that we have been in need of. They are always available and their response time is short.’

‘Christoffer Bjerknes is highly competent. He has a good understanding of the broader context, and is commercially minded.’

‘I work with Tord Fondevik on all of my deals and I have done for almost fifteen years. I will never change lawyers. He’s a machine when it comes to execution power. Gets it done. No excuses. He is demanding on his surroundings. And he’s a nightmare for the opposing side. So he’s on my side for as long as I’m doing this.’

Key clients


Infronode AB

Lundin Energy AS

CVC Capital Partners

Ferd Capital

Paine Schwartz Partners

FSN Capital

IMK Gruppen


Thoma Bravo

Frontline plc

Ferd Capital AS

Aquadrill LLC

Aker Group Companies


Verdane Capital

Adelis Equity

Nordea Bank Oyj

Work highlights

  • Advised Nordea Bank on its acquisition of the personal customer business of Danske Bank.
  • Acted as global lead adviser to Schlumberger on the transaction leading to a combination of the oil and gas subsea businesses of Schlumberger and Aker Solutions.
  • Advised CVC on its acquisition of Visma’s consultancy business unit.

Advokatfirmaet Thommessen AS

Advokatfirmaet Thommessen AS is ‘capable, pragmatic and solution oriented‘ and is sought after for its expertise in public and private cross-border M&A work, particularly in combination with equity issues and debt financings. Practice head Christian Grüner Sagstad acts for a variety of private equity companies and other clients on M&A and equity capital markets transactions. Hans Cappelen Arnesen  is a capital markets and M&A expert, who advises a variety of corporate clients, private equity houses and investment banks; and Anders Arnkværn is highly experienced in public and private M&A and capital market transactions. The group also includes Ervin Auren, who advises on national and international M&A and capital markets transactions; and Baard Bale, who acts in numerous public and private M&A and capital markets transactions. Tore Mydske, who has great ‘commercial skills‘, and Solveig Fagerheim Bugge are also key contacts.

Practice head(s):

Christian Grüner Sagstad

Other key lawyers:

Hans Cappelen Arnesen; Anders Arnkværn; Ervin Auren; Baard Bale; Tore Mydske; Solveig Fagerheim Bugge


‘The Thommessen team has a great combination of availability, legal and commercial skills.’

‘The team is very capable, pragmatic and solution-oriented. Strong team. One of the best (if not the best) in Norway.’

‘Competency, availability, market and sector knowledge, and legal finesse.’

‘Tore Mydske is Norway’s best on finance regulatory issues in combination with commercial skills.’

Key clients

Altor Equity Partners

Triton Partners





Kongsberg Gruppen



Bain Capital

Goldman Sachs

Det Norske Veritas Holding / DNV GL AS

Nordic Capital


Odfjell Drilling Ltd.


BW Group

Oslo Børs VPS Holding

Belships ASA


CBRE Caledon

Pioneer Property Group ASA

Reiten & Co.

Accel Management

Mercell Holding


Komplett ASA

Accent Equity Partners AB

Assemblin AS


TD Veen AS

SpareBank 1 SR-Bank Markets/SpareBank 1 SR-Bank ASA


EXP Group AS

EMK Capital

Work highlights

  • Advised Goldman Sachs Asset Management on its NOK6.6bn public takeover of Frøy ASA.
  • Advised Glitre Energi in connection with the merger with Agder Energi AS.
  • Assisted Danske Bank with the cross-border business combination between the Danish leading digital wallet, MobilePay, and the Norwegian wallet Vipps.


Wiersholm fields a ‘top-quality‘ corporate practice that advises on national and cross-border M&A transactions across a wide range of sectors. The practice is co-headed by experienced M&A practitioner Harald Hellebust, who advises both private equity funds and industrial players, and the ‘excellentSverre Sandvik, who specialises in M&A, capital market transactions and general company and securities law. Gunhild Dugstad is a key contact for private equity transactions, and Kristian Martin Lind regularly advises on M&A, venture investments and general company law. The group also includes Ingjerd Røynås, who assists clients with matters relating to the technology, retail and industry sectors, and Kristian E. Ottesen, who advises companies in connection with M&A, capital market transactions and company law. Other notable practitioners are Hannah Advocaat Lund and Oscar Brown.

Practice head(s):

Harald Hellebust; Sverre Sandvik

Other key lawyers:

Gunhild Dugstad; Kristian Martin Lind; Ingjerd Røynås; Kristian E. Ottesen; Hannah Advocaat Lund; Oscar Brown


‘The team has a deep bench of really strong M&A lawyers. They always deliver top quality advice and have great client service.’

‘Commercially oriented and very skilled team, always understanding and adapting to our demands.’

‘Strong legal capability, commercially oriented and ability to put themselves in our shoes.’

‘Broad competence. Responsive. Practical and commercial approach to legal problems.’

‘Very skilled team with very high working capacity.’

‘Harald Hellebust is the best M&A lawyer in Norway. He introduces new concepts to the local market and is always one step ahead in creating modern process designs. A top negotiator.’

‘Sverre Sandvik is an excellent adviser with high level knowledge, and always serves our demands in a pragmatic, efficient and commercially oriented way.’

‘Sverre Sandvik is excellent on general corporate matters and has a fantastic overview. Kristian Lind is really creative and great in complex projects.’

Key clients





Nordax Bank AB


Summa Equity

Kverva/Kverva Management

Orkla ASA


HG Pooled Management Limited

Nordic Capital

Sector Alarm



Goldman Sachs Asset Management

Wilh Wilhlemsen Holding AS

Bertel O. Steen


Subsea 7


VINCIE Energies

Work highlights

  • Advised WF Holding on the sale of all its shares in Widerøe AS to Norwegian Air Shuttle ASA.
  • Advised Verdane, Summa and Kinnevik on their equity investment in Oda.
  • Assisted Goldman Sachs Asset Management in connection with its takeover bid for Kahoot! ASA, a company listed on Oslo Stock Exchange in all aspects of the transaction, including negotiations with the target, negotiations between the bidding parties, preparation of the offer documentation, financing, structuring and regulatory issues.

Wikborg Rein

Wikborg Rein has a full-service practice with ‘unique industry skills‘, which assists with M&A transactions in a variety of sectors, including the oil and gas, renewables, shipping, offshore and technology industries. The practice is jointly led by Ole Henrik Wille, who is ‘an exceptional lawyer‘ and highly active in M&A and equity capital markets transactions; Sigurd Opedal, who regularly assists private equity and industrial clients; and ‘highly valued adviserArild Frick. The group also includes Ketil E. Bøe, who advises investors, securities clients, banks and companies on a wide range of issues relating to M&A, and Kaare Christian Tapper, who is highly experienced in a variety of M&A and other equity transactions. Therese Trulsen, who advises industrial and technology clients on greenfield projects and cross-border transactions, is also a key practitioner.

Practice head(s):

Ole Henrik Wille; Sigurd Opedal; Arild Frick

Other key lawyers:

Ketil E. Bøe; Kaare Christian Tapper; Therese Trulsen


‘Excellent client service and very pragmatic advice. Number one Norwegian law firm in my mind.’

‘Pragmatic advice that is delivered clearly and quickly.’

‘Wikborg Rein’s team composition differs from others by having more focused partner engagement, rather than broad and shallow, while also giving their high-quality associates room to engage directly with clients.’

‘Service oriented juniors.’

‘Ole Henrik Wille is an exceptional lawyer with unparalleled negotiation skills and the ability to get deals signed.’

‘Ole Henrik Wille has the ability to communicate complex legal frameworks to clients in an understandable manner. Through his solid knowledge of the law and impressive transaction track record, he give clients the comfort needed in high stress situations when negotiations are tough. Expectation management with respect to final outcome is spot-on and stellar.’

‘Arild Frick is probably the best M&A individual we have ever worked with in Norway.’

‘Arild Frick is a highly valued adviser. He combines his strong understanding for corporate law with strong commercial acumen. That makes him able to favourably and quickly move processes forward finding pragmatic while acceptable solutions.’

Key clients


Summa Equity

Nordic Capital

FSN Capital

Permira Advisers LLP


Antin Infrastructure Partners

General Atlantic

Apax Partners

EV Private Equity



Viking Venture

North SEA Midstream Partners


DWS Group

InfraRed Capital Partners


Prosus NV / Naspers


Partners Group


Norsk Hydro ASA

Elkem ASA

Yara International




Thome Group




AKVA Group

Endur ASA

Quantafuel ASA


Aeternum Management

Maritime Partners LLP

Columbia Threadneedle Investments



Lerøy Seafood Group


General Electric Company

Söderberg & Partners


Norway Royal Salmon ASA

Danica Livsforsikringsaktieselskab, Danske Bank A/S

Tide AS


Havyard Group

Scottish Sea Farms Ltd.


Ankala Partners

Hanover Investors Management LLP

Five V Capital Pty Ltd.

Fountain Venture AS


Fraunar Capital Management AS

JPMorgan Asset Management (UK) Limited

Work highlights

  • Advised the Telenor group on the NOK10.8bn sale of a minority stake (30%) of its passive fibre infrastructure to a consortium consisting of KKR and Oslo Pensjonsforsikring.
  • Advised Thome Group, and its owner Skagerak, on its merger with OSM Maritime Group (partially owned by US PE Oaktree).
  • Advised Fountain Venture AS, the founder and largest shareholder (28.54 %) of the Oslo Børs-listed company Meltwater N.V., and Verdane in connection with the contemplated offer to acquire all outstanding shares in Meltwater by MW Investment B.V.

Arntzen de Besche

Arntzen de Besche‘s corporate and M&A practice is ‘creative, structured, responsive and flexible’, with particular knowledge in the renewables, oil and gas and, increasingly, technology sectors. Practice head Knut Martinsen is an M&A specialist with a ‘strong commercial mindset‘ who focuses on software transactions. Per A Dagslet is also an M&A specialist whose ‘capacity, experience and dedication is exceptional‘, and Lars Horgen Hinze acts for a wide range of clients on cross-border and domestic buy-outs and exits. The group also includes Per Kristian Ramsland and Steffen Rogstad who both advise on a wide range of issues relating to M&A and general company law. Another key contact is Maria B. Tanemsmo, who assists clients in various business sectors. Thomas Borch-Nielsen and Øyvind Greaker Bjørndal joined the team from Advokatfirmaet Grette AS in early 2024.

Practice head(s):

Knut Martinsen

Other key lawyers:

Per A Dagslet; Lars Horgen Hinze; Per Kristian Ramsland; Steffen Rogstad; Maria B. Tanemsmo; Thomas Borch-Nielsen; Øyvind Greaker Bjørndal


‘Highly dedicated, pragmatic and understanding the business in which the client operates.’

‘Great company with skilled resources in many fields.’

‘The firm is one of the leading law firms in Norway, yet they treat their clients on an individual and personal level. The team made me as a client feel special and taken care of. They are competent and serve our needs efficiently and professionally.’

‘Creative, structured, responsive, flexible.’

‘Knut Martinsen is always focused, quick and pragmatic with great skills to solve issues very quickly.’

‘Knut Martinsen is a great individual offering good advice while also having a strong commercial mindset.’

‘Per Dagslet is our most important resource. His capacity, experience and dedication is exceptional.’

‘Per Dagslet has shown great ability to make the best of the task at hand.’

Key clients


Edison S.p.A


Shearwater Geoservices


Castik Capital

AnaCap Financial Partners


Francisco Partners

Trollfjord AS / Andøy Holding AS

Ness, Risan & Partners



A.P. Moller – Maersk

Nutreco B.V.




STIFTELSEN SINTEF and subsidiaries

Frøy Kapital AS

Toyota Material Handling Norway AS

Ernströmgruppen AB

Work highlights

  • Assisting the Japanese trading house Mitsui with its agreement to invest in a 27.5% stake in Aker Mainstream Renewable AS.
  • Advising Orkla ASA on a reorganisation of the group to establish an industrial investment company consisting of 12 individual portfolio companies with its own dedicated organisation.
  • Advising Trollfjord and Andøy Energi Holding in its transaction agreements with Nordkraft.

Advokatfirmaet CLP DA

Advokatfirmaet CLP DA is a ‘first-class‘ boutique firm with particular expertise in private equity mandates, specialising in corporate law and capital markets work in the retail, renewables and technology sectors. The practice is led by ‘stand-out‘ M&A and private equity specialist Lars Gunnar Aas, who has extensive experience in transactions, investments and restructurings. The team also includes corporate and M&A practitioner Jakob Villum, who specialises in technology transactions, private equity work and venture capital issues; Amund Erdal, who focuses on mandates relating to renewable energy; and Christian Vestheim, who works primarily with corporate and securities law.

Practice head(s):

Lars Gunnar Aas

Other key lawyers:

Jakob Villum; Amund Erdal; Christian Vestheim


‘High level of attention, even from the managing partner. Expeditious execution with high quality. Strong team of associates and senior associates. Commercial mindset, and helps clients find solutions and strike deals.’

‘First-class in Norway.’

‘Extremely experienced, attentive and efficient. They are more creative and commercial than other firms I have worked with. They ‘have my back’ and protect my interests and find solutions to problems that I’m not able to come up with myself. A joy to work with.’

‘Lars Gunnar Aas is a stand-out partner.’

Key clients

eSmart Systems AS

Jordanes AS

Element Logic AS

Technology Crossover Ventures (TCV)

Sojitz Corporation

Climate Fund ManagersB.V.


Fortum Oyj


Viking Venture

EV Private Equity

Å Energi

Arendals Fossekompani ASA

Verdane Capital

Liwlig Group Oy

Credo Partners

Summa Equity

Hofseth International AS

Nysnø Klimainvesteringer AS

CICERO, Centre for International Climate Research

Work highlights

  • Advised the shareholders of Resoptima AS, a Norway-based technology company specialising in data-driven reservoir management, on the sale of all shares in the company to Halliburton.
  • Assisted Climate Fund Managers with its $102m investment in Release Solar AS, a subsidiary of Scatec ASA.
  • Advised the shareholders of Cicero Shades of Green AS on the sale of all shares in the company to Standard & Poor’s Global.

Advokatfirmaet Haavind AS

The corporate and M&A practice at Advokatfirmaet Haavind AS has ‘a great team with a good mix of commitment, competencies, structure and motivation‘, with sector-specific expertise in the energy, aquaculture and technology spaces. Practice head Bjørn Olav Torpp is a highly experienced M&A lawyer who specialises in cross-border and private equity transactions, as well as joint ventures. The group also includes Preben Brecke, who advises on private equity mandates, and the ‘greatKjetil Hardeng, who advises domestic and foreign clients on transactions and corporate projects. Bård Sandstad, who has extensive experience in handling cross-border transactions and advising international investors in the offshore and energy sectors, is also a key practitioner.

Practice head(s):

Bjørn Olav Torpp

Other key lawyers:

Preben Brecke; Kjetil Hardeng; Bård Sandstad


‘Seniority and good understanding of tasks.’

‘The team we have been working with is characterised by strong commitment to the case and the target, very energetic approach to the process and us as the client, and great loyalty to their legal responsibilities and code of conduct. A great team with a good mix of commitment, competencies, structure and motivation.’

‘To the point, efficient, and great commercial understanding – delivering high-quality advice.’

‘Great availability and abilities with a one-stop shop for M&A. Great commercial understanding and very service minded.’

‘The M&A team at Haavind was competent, to the point and gave business-oriented advice. They were responsive and very agreeable to work with.’

‘Kjetil Hardeng is great.’

‘The team of Bjørn Olav Torpp handles mid-market deals very well and can be recommended.’

Key clients






Equinor Venture

Billerud AB


Vardar AS


Arctic Securities


Gjensidige Forsikring

Work highlights

  • Assisted Statskog (wholly owned by the Norwegian government) with the acquisition of one of Norway’s largest privately owned properties, held by AS Meraker Brug.
  • Assisted Glitre-owner Vardar in connection with the merger between Glitre Energi and Agder Energi.
  • Acted as lead adviser to FSN Capital V in connection with the sale of Mørenot to Hampidjan hf, a public company listed on Nasdaq First North Iceland.


Selmer's practice is ‘very commercially minded‘ and advises across a wide range of issues encompassing corporate and M&A work, private equity mandates and venture capital transactions, with specialist knowledge in the energy, natural resources, retail and aquaculture sectors. Practice head Camilla Magnus is a specialist in corporate and M&A, private equity and corporate governance, while private equity expert Are Herrem has ‘excellent business acumen and is very proactive’. Robert Sveen is a ‘top pick when it comes to M&A related work‘ including public and private M&A and equity capital markets transactions, and Jon Fredrik Johansen is another sought after practitioner. The team also includes corporate finance specialist Ingar Solheim, Remi Dramstad, who specialises in private equity, corporate finance and venture capital work, and Margaret Solberg, who primarily handles M&A transactions and shareholder issues.

Practice head(s):

Camilla Magnus

Other key lawyers:

Are Herrem; Ingar Solheim; Robert Sveen; Jon Fredrik Johansen; Remi Dramstad; Margaret Solberg


‘Very commercially minded and finds solutions to issues. Not afraid of giving advice on what to do, rather than just providing legal opinions.’

‘High professional competence, available and open for discussion of various possibilities.’

‘Very strong legal capabilities, but always with a commercial mindset. They understand the underlying business in detail.’

‘The team, and particularly Are Herrem, has excellent business acumen and is very proactive. We like them very much, as they think well beyond the legal issues and see things in a real business perspective.’

‘We have enjoyed working with Ingar Solheim. He is able to connect with people in a good way, create trust and also make complicated matters simple.’

‘Ingar Solheim and Camilla Magnus both have an extremely strong legal toolbox and commercial mindset. Full trust from our end when it comes to relying on them in intense deal situations.’

‘I have been actively engaging with lawyers in Norway and abroad for three decades. Robert Sveen is my top pick when it comes to M&A related work. He is agile, pragmatic, business minded and smart.’

Key clients



Summa Equity





Solør Bioenergi

Skala Gruppen (Tine/Nortura)

Altor/QNTM Group

Gjensidige Forsikring



Work highlights

  • Advised Sequoia Capital China (Sequoia) on its acquisition/IBO of Holzweiler Holding, a fashion and lifestyle label, in Sequoia’s first investment in Norway.
  • Advised Solør Bioenergi Varme on its acquisition of shares in Oplandske Bioenergi, a Norway-based production company of biochar-based products.
  • Advised NTI Group on the sale of the business to Axcel Management, a Nordic private equity company.

Advokatfirmaet Simonsen Vogt Wiig

Advokatfirmaet Simonsen Vogt Wiig advises on the full spectrum of transactional issues, including private equity mandates, venture capital work and industrial M&A, in key sectors spanning the communications, IT, media and oil and gas industries. Practice head Kristoffer Birkeland is particularly strong on private equity and venture capital matters. The group also includes Amund Fougner Bugge, who specialises in equity capital market transactions and M&A, specifically industrial M&A deals relating to public companies; and Henning Øvrebø, who advises both mid-size and blue-chip companies on M&A mandates. Stian Alexander Slaatta, who assists with private and public M&A and equity capital market transactions, is also a key contact.

Practice head(s):

Kristoffer Birkeland

Other key lawyers:

Amund Fougner Bugge; Henning Øvrebø; Stian Alexander Slaatta

Key clients

Adelis Equity

Azets Norway Holding AS

Bristow Group Inc


Core Equity

Curida Holding AS

DHT Corporate Services

Eidsiva Bredbånd AS

Exsitec Holding AB

AP Ventures

Kingsrose Mining Ltd.


Mutares SE & Co. KGaA

Norwegian Air Shuttle

Prime Capital

Space Norway AS

Sparebank 1 Markets

St1 Norge AS

Telia Company AB/Telia Norge AS

Tenaris S.A

Tibber AS


Valedo Partners Fund

Work highlights

  • Represented Eitrium Holding AB as purchaser in the acquisition of 100% of the shares in Minitech AS and its wholly owned subsidiary Minitech AB.
  • Advised Curida Holding AS and Curida Biologics AS on their acquisition of Diatec Monoclonals AS from the founders and shareholders, including handling the negotiation of a share purchase agreement, structuring advice, financing and due diligence of the target business.
  • Represented Telia Company AB and Telia Norge AS as purchaser of 39% of Fjordkraft Mobil AS, a new joint venture company with Fjordkraft AS as holder of the remaining 61%.

AGP Advokater

AGP Advokater is singled out as a ‘great‘ M&A, capital markets and corporate focused firm, which ‘provides excellent legal advice in an efficient and thorough manner’. The practice is co-headed by private M&A specialist Nils Olav Aarseth and Gard A. Skogstrøm, who primarily handles M&A, equity transactions and general corporate advice. Another notable practitioner is M&A specialist Ketil E. Sauarlia, who is particularly active in the technology sector. In January 2023, debt finance specialist Peter Skutvik joined from Advokatfirmaet Schjødt, and property transaction expert Kim Hellstrøm Christensen joined from Wiersholm. Maria Heiberg Styrvold, who specialises in private M&A and ‘provides legal advice that exceed the client’s expectations’, joined from Wikborg Rein in October 2022.

Practice head(s):

Nils Olav Aarseth; Gard A. Skogstrøm

Other key lawyers:

Ketil E. Sauarlia; Peter Skutvik; Kim Hellstrøm Christensen; Maria Heiberg Styrvold


‘A great boutique law firm that provides excellent legal advice in an efficient and thorough manner.’

‘The team, and in particular its senior partners, are experienced commercial lawyers and advisers in the M&A area. I would say that their strongest attributes is the fact that they are strong on handling complex M&A processes in a listed company environment, including listing and de-listing. My experience is that they are able to multitask complex deal structures, liaise with other advisers and ensure progress on critical timeline tasks.’

‘A smaller firm that reacts quickly to the clients’ requirements.’

‘I want to highlight the accountability and competency of the team.’

‘The practitioners are available, have professional and social skills and the ability to understand the issue at hand.’

‘The founding partners’ strongest asset compared to their competitors is their combination of commercial interest and engagement and their in-depth understanding of the regulated market of the Norwegian Stock Exchange. This sets the apart from many of the other Norwegian law firms of their size.’

‘The partners we dealt with were very professional and thorough. As a British company they were excellent in dealing with our requirements in English. Maria Heiberg Styrvold was excellent in all aspects of the firm’s dealings with us.’

‘Maria Heiberg Styrvold provides legal advice that exceeds the client’s expectations. Her advice is efficient and on-point and she has a great understanding of her practice areas, both in a legal sense and in a practical sense.’

Key clients

Bertel O. Steen Kapital AS

Sikri Group ASA

Glamox AS

LINK Mobility Group Holding ASA

Waterland Private Equity

Karbon Invest AS

StrongPoint ASA

Norselab AS

Oda Group Holding AS

James Hall & Company LTD

All Things Live Group Aps

Nortel AS

Ambita AS

Amesto Group

Antec Biogas AS

Atea ASA

Techstep ASA

PetXL Group AS

Bakkegruppen AS

Bano Holding AS

Crayon Group Holding ASA

Dalema Invest AS

Ecura AS

Engenius AS

Eqom BV

Treschow-Fritzøe AS

Gentian Diagnostics ASA

Hjemmelegene AS AS

Umoe AS

JGP Capital

Kommando AS AS

Nanopower AS

Work highlights

  • Advised Euronext Growth Oslo-listed Nortel AS in connection with an offer for all shares in the company from Unifon AS.
  • Acting as Norwegian counsel to S&P Global (Standard & Poor) in connection with S&P’s acquisition of CICERO Shades of Green AS, a Norwegian consultancy providing second opinions on green bonds.
  • Acting for Danish entertainment group All Things Live Aps in connection with its acquisitions of All In As and HES AS.

Bull & Co Advokatfirma AS

Bull & Co Advokatfirma AS advises host of private sector companies on corporate and transactions matters, especially in the technology, construction, media and retail sectors. The ‘competent and knowledgeable team‘ is led by Erlend Balsvik, who primarily focuses on venture capital and technology sector M&A. The group also includes the ‘clear and conciseBjarte Bogstad, who focuses on venture capital and private equity work; retail, petroleum and maritime specialist Saloume Djoudat, and Stian Sørensen Schilvold, who assists with matters relating to technology and media clients. Other notable practitioners include Finn Olav R. Elde, who advises on technology and venture capital matters, tax specialist Eivind Bergo-Eriksen, and newly promoted partner Elisabeth Hoffmann.

Practice head(s):

Erlend Balsvik

Other key lawyers:

Bjarte Bogstad; Saloume Djoudat; Stian Sørensen Schilvold; Finn Olav R. Elde; Eivind Bergo-Eriksen; Elisabeth Hoffmann


‘Competent and knowledgeable team that works hard.’

‘Knowledge, diversity and extremely high work capacity combined with effectiveness.’

‘High quality advice. Partners are available 24/7.’

‘Agile, dynamic and business enabling.’

‘We were happy with their pragmatic and efficient approach to things. Plus they are sympathetic people.’

‘Bjarte Bogstad is experienced in M&A transactions. His calm way of handling the negotiations works well.’

‘We worked almost exclusively with partner Bjarte Bogstad. Besides his “legal” skills, he was clear and concise in his dealings with our counterparts, and not afraid to take on difficult matters. As a CFO I further appreciated his skills in our discussions about financial and even accounting matters related to the deal.’

‘Bjarte Bogstad is a nice guy, works hard, and wants the client to succeed. He has both a good overview and full control of all details.’

Key clients

Arkon Energy PTY Ltd


Frøiland Bygg Skade



Infobric AB


Krisko Eiendom


Nova Consulting Group

Schibsted Delivery

Schibsted Norge

Schibsted Tillväxtmedier AB

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Transtema Group


Uno-X Mobility

Visscher Seafood BV

Work highlights

  • Advised Australia-based Arkon Energy on its acquisition of Hydrokraft AS.
  • Advised Nova Consulting Group on its acquisitions of majority stakes in Egde Consulting and Dekode Interaktiv.
  • Advised Sweden-based Transtema on its acquisition of UBConnect AS.

CMS Kluge

CMS Kluge has a broad M&A and private equity practice with cross-border capabilities and a ‘commercially oriented‘ team. Espen Debes leads the practice out of the Stavanger office and advises on transactions in the healthcare, energy and IT sectors. The team also includes the ‘very attentive‘ head of the Oslo-based offering Frode Olsen, who is a private equity specialist in the construction and tech sectors; Snorre Haukali, who assists on M&A and financing transactions; and Johan Svedberg, who specialises in corporate, M&A and securities law. Christina Lavold, who primarily handles private M&A, is also a key contact.

Practice head(s):

Espen Debes

Other key lawyers:

Frode Olsen; Snorre Haukali; Johan Svedberg; Christina Lavold


‘The team works very efficiently and has a high degree of availability. They provide outstanding legal advice.’

‘Humble, hardworking, diligent and very knowledgeable. Invaluable in negotiations and reading the counterpart.’

‘Competent and dynamic team, always accessible for sparring and process.’

‘Commercially oriented team with a strong ability to balance the legal aspects with business requirements and the strategic objectives of the client. Available on short notice and willing to go the extra mile to close the deal.’

‘Broad offering, international network of partner firms, extensive M&A experience.’

‘Makes you feel that you are working as one team towards a common goal. Snorre Haukali and Espen Debes demonstrate a service oriented attitude, and at the same time they provide top class legal advice.’

‘Frode Olsen is very attentive.’

‘Christina Lavold and Frode Olsen form a very good and well-matched team, and provide an excellent service.’

Key clients


ECI Software Solutions

Ocean 14 Capital

Armada Capital Partners

Bluegreen Investments


Pecunia Forvaltning




Norsk Hydro

CO2 Capsol



Ministry of Trade, Industry and Fisheries

Nordic Waterproofing

Spenncon / Consolis Group

VE Partners

Xplora Technologies


Bertelsen & Garpestad

Work highlights

  • Advised Armada Credit Partners on its investment in Simplifai in connection with a buy-out of the company by an investment consortium from Elop, a listed Norway-based tech company.
  • Advised the shareholders of Konstel Holding, including Credo Partners, on an auction process later turning into a bilateral process, regarding the sale of Konstel Holding, the independent Norwegian electrical installation group.
  • Advised Volvo Car Stor-Oslo, as buyer, regarding the acquisition of the Volvo car retail business in the greater Oslo region from Bilia Norge, as seller.

DLA Piper

DLA Piper's broad corporate and M&A practice is especially sought after for its cross-border capabilities, particularly in the technology and renewable energy industries. Practice head Christian Fenner focuses primarily on corporate and M&A work in the private equity space. The team also includes head of the renewables sector group Kaare Oftedal, and Fredrik Lykke, who handles transactions for both industrial and private equity clients. Sveinung Mjaugedal, who has sector-specific knowledge of the construction, healthcare and technology arenas, and Dina Jørstad are also key contacts. The practice has seen notable recent growth; Fredrik Klebo-Espe joined the firm in April 2023 from KPMG Law Advokatfirma AS, Norway, Stig Nordal and Fredrik Finsås joined from SANDS in August 2023, and Malin R. Ranheim joined from Økland & Co in October 2023.

Practice head(s):

Christian Fenner

Other key lawyers:

Kaare Oftedal; Fredrik Lykke; Sveinung Mjaugedal; Fredrik Klebo-Espe; Dina Jørstad; Fredrik Klebo Espe; Stig Nordal; Fredrik Finsås; Malin R. Ranheim

Key clients

Sdiptech AB

GE Vernova

Apave SA

Position Green Group

Swiss Life Asset Manager AG


Storskogen Group / Storskogen Norge

Equip Capital

Cube Infrastructure

Aeternum Capital

Herkules Private Equity

DRIV Kapital Fund

Cloudberry Clean Energy


OpenGate Capital

Alder Fund II

Cennox Holdings


Renantis (Falck Renewables)

Pharmaq (part of Zoetis)

Møller Mobility Group / Møller Bil

Work highlights

  • Advised Equip Capital Fund I and its portfolio company JUMP House Holding GmbH on the complete take-over of Superfly Group in Europe from US-based Germanissippi LLC (controlled by Palladium Equity Partners). The acquisition comprised of 16 companies across Germany, the UK and Hungary.
  • Advised GE Vernova’s Digital Business on the acquisition of 100% of the shares in Greenbird Integration Technology AS, an international solution and technology company backed by ETF Partners, EnBW New Ventures GmbH (ENV) and Nysnø.
  • Advised Cube Infrastructure Managers on the agreement for its fund, Cube Infrastructure Fund III, to acquire Urbaser Nordic, a Norway-based holding company of waste collection business, from Spanish integrated waste management group, Urbaser.

Advokatfirmaet Grette AS

Advokatfirmaet Grette AS assists with all types of M&A transactions with particular expertise in the construction, renewable energy, real estate, and infrastructure industries. Leading the practice, Andreas Myrstad primarily focuses on M&A and capital markets transactions. The group also includes Thomas J. Fjell, who specialises in distressed transactions; Erik Alsvik Skogsbakken, who advises on general corporate law, particularly matters involving a significant debt element, and Roland Mörsdorf, who focuses on cross-border transactions between Norway and Germany. Thomas Borch-Nielsen and Øyvind Greaker Bjørndal departed to Arntzen de Besche in early 2024.

Practice head(s):

Andreas Myrstad

Other key lawyers:

Thomas J. Fjell; Erik Alsvik Skogsbakken; Roland Mörsdorf

Key clients

Moelven Industrier

Inin Group AS

BKW Group

Lehmkuhl Capital





Hurum Energi


Energi Teknikk AS


Electromagnetic Geoservices ASA


Starship Investments






Work highlights

  • Advised Inin Group AS, a Euronext Growth Oslo listed infrastructure company, on its acquisition of 100% of the shares in infrastructure construction company Laje AS from electricity company Ringerikskraft AS.
  • Advised EnBW on establishing the Norseman Wind AS joint venture, together with NorgesGruppen, for the operation of a bottom-fixed offshore wind farm with a capacity of 1400MW over 400km2 in Sørlige Nordsjø II.
  • Advised Vesterålen Havbruk AS, and a Norwegian investor, in connection with several transactions in respect of an investment in Vesterålen Havbruk, including share, asset and real property acquisitions, as well as equity raises in Vesterålen Havbruk.

Kvale Advokatfirma DA

The corporate team at Kvale Advokatfirma DA is ‘highly qualified in the transactions area‘ and advises across a wide range of sectors. The practice is led by Anne Kjølseth Ekerholt, who specialises in handling transactions for corporations. Thomas S Farhang is an ‘excellent lawyer and an M&A star’, who frequently advises on cross-border issues, and M&A specialist Øystein Løken has ‘exceptionally good commercial understanding‘, particularly in the natural resources, retail and TMT sectors. The group also includes transactional lawyer Marius L Andresen, M&A specialist Kristin Nyhus Halvorsen, who particularly advises on issues relating to the hospitality industry, Carl Christian Marthinussen and Odd-Terje G Elde.

Practice head(s):

Anne Kjølseth Ekerholt

Other key lawyers:

Thomas S Farhang; Øystein Løken; Marius L Andresen; Kristin Nyhus Halvorsen; Carl Christian Marthinussen; Odd-Terje G Elde


‘The team is highly qualified in the transactions area and able to give understandable and to-the-point advice. They have several areas of expertise and are able to swiftly involve colleagues and advise across several legal areas when needed.’

With their local affiliations, Kvale understand what it’s like to be a Northern Norwegian company, working on a national and international stage.’

‘Very hands on. Gives practical advice and leads the M&A process in a very professional manner.’

‘The team is diverse in areas of expertise and has extensive experience across various industries and scenarios.’

‘The Kvale M&A team is a joy to work with. Highly responsive with good legal advice and a strong commercial focus.’

‘Thomas Farhang is one of kind. He is an excellent lawyer and an M&A star.’

‘Odd-Terje G Elde has an exceptionally good commercial understanding and is capable of approaching issues from various angles, beyond just focusing on the legal aspects. This leads to productive discussions and can, for example, result in structuring a transaction in a favourable manner or drafting agreements that are beneficial for the client.’

‘I highly recommend Carl Christian Marthinussen. Always available, commercially minded and a great problem solver.’

Key clients

Danske Bank

DNB Bank

Elkjøp Nordic (Dixons Carphone)

Höegh Autoliners

NES Global Talent

Mærsk Drilling


Philips Lighting Holding

Koninklijke Philips


Nordic Mining

Fearnley Offshore

Bourbon Offshore

Norsk Telegrambyrå (NTB)


Ramstad Bil


Lian Group


Sparebank 1 Markets

Clarksons Platou Securities




Solon Eiendom


DN Media Group

Takst-Forum Holding




Work highlights

  • Advised Wenaas Hotel Russia on the sale of its Russian hotel portfolio to Cosmos Hotel Group.
  • Advised Bilia Norge on numerous transactions, including the sale of its Oslo Volvo dealers to Volvo Car Stor-Oslo.
  • Advised Bluewater Private Equity on its sale of Techouse to Triton Partners.

Aabø-Evensen & Co Advokatfirma

Aabø-Evensen & Co Advokatfirma is a boutique M&A firm, which advises clients across the full spectrum of corporate, commercial and M&A matters, and is especially sought after by foreign investors for cross-border transactions. Practice head Ole Kristian Aabø-Evensen is a highly experienced M&A practitioner who advises on all types of M&A transactions with a particular focus on international matters. The team also includes Henning Raa, who advises on transactions in the technology, real estate, infrastructure and industrial production sectors; and Geir Johan Nilsen, who specialises in M&A, corporate reorganisations, corporate law and litigation.

Practice head(s):

Ole Kristian Aabø-Evensen

Other key lawyers:

Henning Raa; Geir Johan Nilsen

Key clients

Imdex Limited

Francisco Partners

Vauban Infrastructure

Stirling Square Capital Partners

SAR Gruppen AS

NEC Corp.


Fred Olsen Limited

Fred Dessen Limited

Nordic Electrofuel

Solgrid AS

E Plug

Work highlights

  • Advised IMDEX Limited on its acquisition of Devico AS, which was a cross-border deal involving operations in 15 different jurisdictions with numerous legal, regulatory and tax issues arising.
  • Advised pan-European private equity fund Stirling Square Capital Partners on its acquisition of InfoBric Group.
  • Advised Vauban Infrastructure on the cross-border merger between its portfolio company Valhall BidCo AS and Echidna Investment BV.

Brækhus Advokatfirma AS

Brækhus Advokatfirma AS fields an ‘extremely efficient and effective team‘, which advises on the full range of corporate, M&A and finance transactions. Practice head Christoph Morck, whose ‘knowledge of Norwegian legal issues is outstanding’, is a cross-border expert, and frequently advises foreign companies on their establishment, business and investments in Norway. The group also includes John Sveinsvold, who is a corporate and commercial expert.

Practice head(s):

Christoph Morck

Other key lawyers:

John Sveinsvold


‘Extremely efficient and effective team. Time saving and trilingual (Norwegian, English and German). Finetuned and eloquent communication. Trust building and pleasant to work with.’

‘Great support and amazing work speed!’

‘The practice is fast footed and professional, with good people to work with. Documentation, strategy and legal advice are reliable and to the point.’

‘Our experience with Brækhus is that they always seek the right expertise from the right person so that challenges and problems can be highlighted quickly. This means that the right solutions are chosen in a short time.’

‘Especially for German companies, this law firm is a must.’

‘The team has made our contracting process a success. Christoph Morck was a great win for us, his competencies and knowledge of Norwegian legal issues is outstanding and was a key factor for the creation of our two companies in Norway with our Norwegian partners. He takes care of all open questions and provides us with all answers.’

‘We have worked with the partner Christoph Morck who is both sharp and experienced, with high quality levels of details and overall advice.’

‘The collaboration with Christoph Morck has been very good. He is committed, follows us up as a client and is knowledgeable. He put together a very skilled team in a short time, and followed up with us after the last case was resolved.’

Key clients

Capgemini Norge AS

Recreate (Prev. R8 Property ASA)


Veo Oy, Veo AS

Federal Republic of Germany

Busch Dienste GmbH

Kao Germany GmbH

Uzin Utz Norge AS

BPW Hofstad AS

WALO International AG

Wintersteiger AG

Work highlights

  • Assisted Swiss Diabetes Venture Fund SCSp, SICAV-RAIF as lead investor with its investment in Glucoset AS, a med tech start-up company that develops tools for accurate and continuous glucose monitoring in intensive care units, to reduce patient mortality and hospital costs.
  • Assisted PropTech1 Fund I GmbH & Co. KG (as pre-seed lead investor) and Styx Urban Investment GmbH & Co KG (as co-investor) with their investment in Proptly AS, a digital consultancy and software company that develops solutions in ​​”prop tech”.
  • Assisted Axopar Boats Oy with legal due diligence prior to its investment in Evoy AS, a company which develops and commercialises innovative electrical systems for maritime purposes.

Advokatfirmaet Hjort

The transactions team at Advokatfirmaet Hjort is ‘always available and very competent‘, and advises on a host of matters in the technology, energy, renewables and aviation sectors. Practice head Thomas Alnæs is highly experienced in M&A, tax structuring and company law, and also handles cross-border transactions. The group also includes Christian Dahl Aaser, who specialises in the offshore and energy sector; and ‘excellent‘ M&A and international capital markets expert Vegard André Fiskerstrand, who joined the team from Advokatfirmaet Schjødt in February 2023. Helene Eng is also recommended.

Practice head(s):

Thomas Alnæs

Other key lawyers:

Christian Dahl Aaser; Vegard André Fiskerstrand; Helene Eng


‘A refreshing and light-footed alternative to the well-established firms of the Norwegian market.’

‘Always available and very competent. Highly flexible teams that combine relevant areas of law as the case evolves.’

‘Hands-on practitioners with solid and commercial knowledge of corporate law and transactions.’

‘I am impressed by the dedicated interest each person of the team has shown. They work well together and the atmosphere is very amicable.’

‘Thomas Alnæs and Christian Dahl Aaser have gone out of their way to assist us in the M&A process.’

‘Christian Aaser is commercial, pragmatic and always seems to find a solution on even the most challenging negotiations.’

‘Thomas Alnæs is very solution oriented and combines vast M&A experience with in-depth knowledge of tax law.’

‘Vegard Fiskerstrand is an excellent lawyer within company law and securities law and impresses with his detailed knowledge and overview of these legal areas.’

Key clients

Sopra Steria

AAP Aviation

Lava Oslo AS

Bokbasen AS

Partrederiet Nyvoll Senior ANS

Copenhagen Infrastructure Partners



Novamont S.P.A/ Biobag AS

Odfjell Technology ASA



MECA Norway AS


Batteriretur AS


Ramfoss Kraftlag

Odfjell Drilling ASA

Statnett SF

Ingersoll Rand Inc

Nebb Holding AS


Vidju Holding AS

Sandton Capital Partners, L.P.

Sandton Credit Solutions Master Fund V, LP

Fenix Outdoor

Lovlundlaks AS

Reach Capital LLC

Work highlights

  • Assisted Sopra Steria, a European IT company listed in Paris, with the acquisition of shares in Marin IT AS.
  • Assisted NEBB Holding AS with the sale of all shares in NEBB Engineering AS (including subsidiaries), including a reinvestment in the private equity backed buyer.
  • Assisted Ingersoll Rand Inc with the acquisition of all shares in K. Lund Offshore AS (including its subsidiaries).


SANDS leverages its broad and ‘highly competent‘ corporate and M&A practice to provide sector-specific advice to clients in the healthcare and health tech industries. Practice head Terje Gulbrandsen is an M&A specialist who particularly focuses on company and contract law, while Erik Lind, who leads the transactions department, has a ‘solid M&A track record and excellent people skills‘. M&A, corporate and equity transactions expert Espen Furuholt and Martin Feevag Larsen, who specialises in transaction advisory services, are also recommended, along with Jill Berglund.

Practice head(s):

Terje Gulbrandsen

Other key lawyers:

Erik Lind; Espen Furuholt; Martin Feevag Larsen; Jill Berglund


‘Exceptionally good client engagement. Pragmatic, well-considered and solution-oriented advice.’

‘Brilliant communicators and a pleasure to work with. Excellent, outcome orientated judgement/advice during negotiations.’

‘Strong team with wide range of competencies.’

‘SANDS has a good team that delivers according to expectations.’

‘The team is highly competent and are a good partner for our business.’

‘Erik Lind – combination of solid M&A track record and excellent people skills, ensures successful M&A processes, also when obstacles occur.’

‘Terje Gulbrandsen is the lawyer that understands our company and business strategy best, and he therefore gives great advice.’

Key clients

Solcellespesialisten AS

Eitzen Avanti

RGA Energy Holdings AS

Invent Sport

C-feed AS


Volvat Medisinske Senter AS

Einar Braathen Oslo AS, A. Østvaag AS and Borten Gruppen AS

Work highlights

  • Acted as legal adviser to RGA Energy Holdings AS, an indirect 100% wholly-owned subsidiary of Norwegian listed entity Akastor ASA, on the sale of 100% of the shares in AGR AS to listed company ABL ASA.
  • Acted as legal adviser to Solcellespesialisten and its shareholders in connection with a sale of shares and private placement in the company, with Nordic PE Fund FSN Capital as buyer.
  • Acted as legal adviser to Eitzen Avanti AS on its acquisition of the Danish shipping company B-Gas from Bergshav and its partners.