Civitta expands team in Baltics and Nordics with bolt-on of Excedea

30 March 2022 2 min. read

Five months after acquiring a boutique in Poland, Civitta has purchased Excedea, a consulting firm with around 20 consultants working from offices in Tallinn, Helsinki and Stockholm.

Commenting on the bolt-on, Tuomas Virtanen, a partner at Civitta, said that the consulting firm is excited about the move for three reasons. “Firstly, we now have access to much stronger competences to service our clients on funding, both at international and local level.”

Established in 2008, Excedea advises and supports clients – particularly growth companies and SMEs – with obtaining funding and realising international growth. Since its inception, the firm has completed over 500 projects.

Civitta expands team in Baltics and Nordics with bolt-on of Excedea

Excedea’s main focus services are public funding, specifically in the innovation sector (EIC Accelerator, Eurostars and other national funding programs), as well as international growth, mainly focused on export consulting for private clients.

“Secondly,” Virtanen continued, “as Excedea has been actively facilitating international growth among multiple Nordic companies, we look forward to bringing our comprehensive Civitta service portfolio to these clients.”

From its 26 offices across Central and Eastern Europe and the Nordics, Civitta provides clients with services including management consulting, grants, project delivery, market research and customer data analytics, entrepreneurship and startups support, and public policy and development.

Thirdly, “the joining of forces provides us with entry into Sweden, giving us a fantastic platform to continue our growth in the Nordics (Civitta already had operations in Finland and Denmark).”

Meanwhile, for Excedea, the move is a “natural step in our evolution” said Viktor Reppo, now a partner at Civitta in Estonia. “The deal offers clear synergies in terms of capabilities, capacity, and markets. It will further enhance the quality of our services, bring higher value for our clients, and offer new professional growth prospects for our team.”

Henrik Dagmalm, now a partner based in Stockholm, added, “Joining Civitta is a significant opportunity for growth as there is excellent potential in bringing Civitta’s competences to further serve the Swedish market.”