M&A Deal Summary

Press Ganey Acquires Forsta

On February 7, 2022, Press Ganey acquired software company Forsta from Verdane and EQT

Acquisition Highlights
  • This is Press Ganey’s 2nd transaction in the Software sector.
  • This is Press Ganey’s 1st transaction in the United Kingdom.

M&A Deal Summary

Date 2022-02-07
Target Forsta
Sector Software
Buyer(s) Press Ganey
Sellers(s) Verdane
EQT
Deal Type Add-on Acquisition
Advisor(s) Jefferies (Financial)
Sidley (Legal)

Target

Forsta

London, United Kingdom
Forsta is a provider of customer experience and market research software and services to enterprise customers and market research professionals. Forsta is headquartered in London, United Kingdom.

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Buyer(S) 1

Buyer

Press Ganey

Wakefield, Massachusetts, United States

Category Company
Founded 1985
Sector Information Services
Revenue 318M USD (2015)
DESCRIPTION

Press Ganey is a provider of healthcare performance solutions for hospitals, healthcare and home care providers. Press Ganey utilizes patient and employee surveys to collect vast amounts of proprietary data on behalf of clients to power its industry-leading benchmarking and analytics tools and advisory services. Press Ganey was founded in 1985 and is based in Wakefield, Massachusetts.


DEAL STATS #
Overall 16 of 16
Sector (Software) 2 of 2
Type (Add-on Acquisition) 15 of 15
Country (United Kingdom) 1 of 1
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-26 SPH Analytics

Alpharetta, Georgia, United States

SPH Analytics is a provider in action analytics, providing best-in-class solutions and transformative technologies for provider, payer, and health networks. SPH Analytics was founded in 2014 and is based in Alpharetta, Georgia.

Buy -

Seller(S) 2

SELLER

Verdane

Oslo, Norway

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1985
PE ASSETS 1.2B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Verdane is a Norwegian private investment focused on acquiring portfolios of investments. In addition to secondary investing, Verdane also invests in co-investment pools as well as makes direct investments in individual growth companies. Sectors of interest include consumer products/services, software, energy, technology, and communications. Verdane provides support to portfolio owners to reduce exposure to private equity risk, achieve liquidity and free owners from the burden of managing direct investments. The majority of Verdane's investments are growth stage, however, the Firm can invest at any stage of development. Verdane was formerly known as Four Seasons Venture AS and was established in 1985. Verdane is based in Oslo, with additional offices in Helsinki and Stockholm.


DEAL STATS #
Overall 44 of 46
Sector (Software) 6 of 7
Type (Add-on Acquisition) 31 of 32
Country (United Kingdom) 2 of 2
Year (2022) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-27 Papirfly

Sandnes, Norway

Papirfly is a brand management software group that provides a cloud-based, modular software platform for brand activation management (“BAM”), helping large companies create, edit, store, and distribute their brand assets. Its solutions simplify the challenges faced by brand-driven organizations by empowering employees and other stakeholders to activate brands on a global scale and on a local level without needing specialist skills or design expertise. Papirfly was formed in 2000 and is based in Sandnes, Norway.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-17 EVA Global

Tampere, Finland

EVA Global is a managed services provider in emobility. The company offers an integrated and innovative technology platform that can connect to 17 different Charge Point Management Systems and allows us to operate charging infrastructure, troubleshoot virtually any type and make of charging equipment, provide superior customer experience, and manage the service and maintenance of your install base. EVA's clients include a wide range of companies located across Europe, Asia, and the United States. It currently solves more than 100,000 EV driver cases a month, and our team of multilingual EV Specialists is available 24/7, 365 days a year. EVA Global was formed in 2017 and is based in Tampere, Finland.

Buy -
SELLER

EQT

Stockholm, Sweden

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 242.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

EQT is a global private equity group that purses a variety of investment strategies around the world. EQT is divided into several investment disciplines, including private capital, real assets, credit, and venture. The Firm's private capital group targets large, market-leading enterprises (investment size of €125 to €1.5 billion) across Europe and the US, as well as mid-market, growth companies (investment size of €40 to €125 million) across the US, Europe, China, and Southeast Asia. The Firm's real assets group seeks to identify control or co-control equity investments (investment size of €500 to €1 billion) in medium-sized infrastructure companies that provide an essential service to society, are recession resilient, and have secure cash flows. EQT's credit group provides flexible, long-term debt capital solutions to medium-sized European businesses, across a wide range of sectors. EQT was established in 1994 and is headquartered in Stockholm, Sweden.


DEAL STATS #
Overall 162 of 187
Sector (Software) 5 of 6
Type (Add-on Acquisition) 65 of 73
Country (United Kingdom) 6 of 6
Year (2022) 3 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-01 Levande

Sydney, Australia

Levande is an operator of a portfolio of 58 retirement villages across Australia, providing community living and support services to more than 10,000 residents. Levande is based in Sydney, Australia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-17 Touhula

Oulu, Finland

Touhula is a Finnish early education service provider operating more than 140 pre-schools and day-care centers across Finland. Touhula has a unique high-quality education philosophy, encouraging children to engage in natural physical activity and adventure. Touhula was founded in 2010 and is based in Oulu, Finland.

Sell -