M&A Deal Summary

Triton Partners Acquires Norstat

On September 30, 2019, private equity firm Triton Partners acquired business services company Norstat from Foinco and Verdane

Acquisition Highlights
  • This is Triton Partners’ 9th transaction in the Business Services sector.
  • This is Triton Partners’ 6th transaction in Norway.
Investment Fate
  • Norstat was sold to a consortium of financial buyers in 2024.

M&A Deal Summary

Date 2019-09-30
Target Norstat
Sector Business Services
Buyer(s) Triton Partners
Sellers(s) Foinco
Verdane
Deal Type Secondary Buyout

Target

Norstat

Oslo, Norway
Norstat provides data collection and processing information to professional users of market analysis and other types of research. The company conducts annually 1.5 million interviews in the Nordic region, mainly by using online panels and telephone interviews (CATI) and has the largest pre recruited online panel in the Nordic region, representing a solid base for further strengthening its position in a growing industry. Norstat was founded in 1997 and is based in Oslo, Norway.

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Buyer(S) 1

Buyer

Triton Partners

Frankfurt, Germany

Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 21.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Triton Partners is an investment firm focused on investing in medium-size companies headquartered in Western and Northern Europe. This includes businesses in Germany, Switzerland, Austria, Denmark, Finland, Norway, and Sweden. Triton generally pursues market leading companies with the potential for change, as well as growth opportunities through operational improvements. Sectors of interest include business services, consumer products, consumer services, healthcare, and industrials. Triton Partners was formed in 1997 and is based in Frankfurt, Germany.


DEAL STATS #
Overall 79 of 105
Sector: Business Services M&A 9 of 11
Type: Secondary Buyout M&A Deals 19 of 26
Country: Norway M&A 6 of 8
Year: 2019 M&A 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-19 All4Labels

Witzhave, Germany

All4Labels is a provider of digital printing solutions. It serves local and multinational companies in different industries, offering pressure-sensitive, shrink sleeve and security labels as well as flexible solutions. All4Labels is based in Witzhave, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-30 RENK

Augsburg, Germany

RENK is a manufacturer of special gear units and transmissions for tracked vehicles, industrial applications, and the shipbuilding industry, as well as components for propulsion technology and test systems, supplying customers all over the world. RENK was founded in 1873 and is based in Augsburg, Germany.

Buy -

Seller(S) 2

SELLER

Foinco

Oslo, Norway

Category Family Office
Founded 1988
Size Small
Type Sector Agnostic
DESCRIPTION

Foinco AS was a family office focused on buyouts and growth capital financings of small and mid-sized businesses in Norway. The Firm is a generalist investor and targets companies with 50 to 500 million NOK of annual revenue. Prospective companies generally offer scalable business models with 'unrealized potential'. Foinco was founded in 1988 and is based in Oslo.


DEAL STATS #
Overall 1 of 1
Sector: Business Services M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
Country: Norway M&A 1 of 1
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-03 Norstat

Oslo, Norway

Norstat provides data collection and processing information to professional users of market analysis and other types of research. The company conducts annually 1.5 million interviews in the Nordic region, mainly by using online panels and telephone interviews (CATI) and has the largest pre recruited online panel in the Nordic region, representing a solid base for further strengthening its position in a growing industry. Norstat was founded in 1997 and is based in Oslo, Norway.

Buy Nkr148M
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 37 of 48
Sector: Business Services M&A 3 of 3
Type: Secondary Buyout M&A Deals 5 of 7
Country: Norway M&A 13 of 15
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-29 Educations Media Group

Stockholm, Sweden

Educations Media Group is a search engines for education and training. EMG works with 4,000 education providers in 40 countries and helps 2 million students find the right course for their needs among the 50,000 programs available each month. EMG was founded in 2000 and is based in Stockholm, Sweden.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-16 CAP-Group

Hämeenlinna, Finland

CAP-Group is a driving school and a pioneer of simulator-based training for consumers and professionals. CAP-Group has pioneered the digitalization of driving schools in Finland, bringing customers a more convenient driving school experience at a better price. The company’s proprietary and industry-leading Enterprise Resource Planning (ERP) system is used by the vast majority of driving schools in Finland. CAP-Group was formed in 2009 and is based in Hämeenlinna, Finland.

Buy -