Oslo-based Thommessen, part of the Scandinavian Law Alliance together with Vinge in Sweden and Kromann Reumert in Denmark, dominates this year’s Norwegian league tables with 44 deals, totalling €11.47bn (£7.69bn) in 2005. As seen across Europe, private equity deals have been helping to fill the coffers in Norway’s independent firms.

“The most important factor in Norwegian M&A has been the private equity houses, which have been very forceful since 2004, and the auction process. This has demonstrated to company owners that great values are available,” says Nils Thommessen, partner at 40 partner independent Wiersholm Mellbye & Bech. “Many companies have been put out for auction. One good example is the sale of the Nille Group to Ferd Private Equity.”