M&A Deal Summary

Foinco and Verdane Acquire Norstat

On January 3, 2008, family office Foinco and growth capital firm Verdane acquired business services company Norstat for 148M NOK

Acquisition Highlights
  • This is Foinco’s 2nd and Verdane’s 1st transaction in the Business Services sector.
  • This is Foinco’s and Verdane’s largest (disclosed) transaction.
  • This is Foinco’s 1st and Verdane’s 1st transaction in Norway.
Investment Fate
  • Norstat was sold to a consortium of financial buyers in 2019.
  • Norstat was sold to a consortium of financial buyers in 2024.

M&A Deal Summary

Date 2008-01-03
Target Norstat
Sector Business Services
Buyer(s) Foinco
Verdane
Deal Type Going Private
Deal Value 148M NOK

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) 2

Buyer

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 2 of 2
Sector (Business Services) 2 of 2
Type (Going Private) 1 of 1
Country (Norway) 1 of 1
Year (2008) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-15 Zentuvo

Helsinki, Finland

Zentuvo provides professional photographic services & visualization services to the real estate broker market, Zentuvo visualization services for real estate agents in Norway. Zentuvo has a nationwide network of photographers and provides services to the majority of real estate broker chains. Zentuvo was founded in 2000 and is based in Helsinki, Finland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-30 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.

Sell -
Buyer

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 7 of 84
Sector (Business Services) 1 of 1
Type (Going Private) 1 of 1
Country (Norway) 1 of 15
Year (2008) 1 of 6
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-11-08 Coding Technologies AB

Stockholm, Sweden

Coding Technologies AB Audio compression technologies.

Sell $250M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-15 Wireless Maingate AB

Karlskrona, Sweden

Wireless Maingate AB Wireless service provider in the M2M segment.

Buy -