This is an exploratory study of re-politicisation of municipal companies in one Norwegian municipality. Unlike re-municipalisation, which seems to imply the reversal of privatisation and out-contracting, and the reinstitution of municipal ownership, the Norwegian case demonstrates a continued adherence to the provision of certain public services through municipal companies. However, our study reveals increasing re-politicisation, especially with respect to board composition. The mechanisms behind this process seem first and foremost to be a post-NPM response (re-centring) combined with efforts of rebalancing NPM-inspired solutions without changing them in any fundamental way (learning from experience).