EY-Parthenon Corporate Finance advised in the sale of Reknes to ECIT

On 16 May 2025, it was announced that EY-Parthenon Corporate Finance acted as the exclusive financial advisor to the shareholders of Reknes AS in connection with the sale of 60% of the outstanding shares to ECIT AS.

Reknes is a Norwegian software company with 35 years of experience in developing tailored enterprise systems for the waste management and recycling sector. The company has a diverse customer base in both the private and public sectors. Following the successful migration of its customers to cloud-based solutions and a strengthened organization, Reknes began the process of identifying a strong owner that could support the company in its next growth journey.

ECIT AS is a leading provider of IT, finance and accounting, and technology solutions. With over 140 acquisitions, the company has established a strong presence across the Nordics and Western Europe. ECIT has grown its annual revenue to nearly NOK 4 billion and employs approximately 2,600 people across more than 100 offices in 10 countries.

The acquisition supports ECIT’s continued focus on industry-specific business solutions and gives Reknes access to new areas of expertise and an international market.

Prior to the transaction, Reknes was owned by its founder, Karl-Inge Reknes. The deal enables him to remain a shareholder while benefiting from the strategic advantages of having ECIT as a majority owner.

EY-Parthenon congratulates all parties involved on a successful transaction.

Below you can find a selection of EY-Parthenon's recent deal alerts and you can also find a more extensive list on our Transactions and Corporate Finance by EY-Parthenon page.