BrazilPNO Consultants acquires Norwegian boutique Esacon
PNO Consultants has expanded into the Nordics with the acquisition of Esacon, a boutique consulting firm specialised in subsidies.
Headquartered in Olso, Esacon helps small and large businesses in Norway access SkatteFUNN, a popular tax credit program for companies with research and development projects. Since its founding in 2010, Esacon has successfully completed over 2,800 tax credit applications for its Norwegian clients.
The acquisition will see Esacon and its around 20 staff become part of PNO Consultants.
With offices in 10 countries, PNO Consultants is one of Europe’s larger consultancies dedicated to subsidies, grants, research & development schemes, and public funding. The deal lifts its headcount to around 570 staff, and notably establishes its inaugural office in the Nordics.
Norway is however not greenfield terrain for PNO Consultants. The consulting firm has been advising Forskningsrådet (the Research Council of Norway), industrial clients and key research institutes for over six years on subsidy matters, including on EU funding (such as Horizon Europe) and R&D tax credit schemes.
“Esacon’s focus on quality in supporting companies in their innovation process tells me that we are excellent partners. I am confident that we will achieve our ambitions together, in the interest of our clients, employees and companies,” said Paolo Salvatore, CEO of PNO Group.
For the Norwegian boutique, joining forces with PNO Consultants will unlock growth opportunities and provide clients with an expanded service offering, said Erik Frey Olsen, CEO of Esacon.
“Joining PNO Consultants enables us to combine our services in SkatteFUNN with EU funding.”
“Through the EU Framework Programme for Research and Innovation, Norway participates in over 1,200 projects, and the EU contributes more than €780 million to Norwegian businesses. PNO’s vast expertise and broad services portfolio will benefit Norwegian businesses moving forward in the immediate future.”
PNO Consultants was founded in 1982. The private equity-backed group is headquartered in the Netherlands.
