One of the largest independent data collection providers in the UK has been acquired by Norwegian market research data giants.
Panelbase shareholders were advised by Sahil Nayyar and Shawn Bone of Cavu Corporate Finance, received legal guidance from Charlie Fielding, Corporate Partner at Square One Law and financial advice from Detlev Andersen of Kinnair Associates.
Charlie Fielding of Square One Law said: “We have enjoyed working with Panelbase and its management team over the last few years and it’s been a pleasure to have now supported the shareholders on the successful sale.
“As Panelbase joins forces with Norstat, it will be exciting to see what is achieved in the future as they build on the strong foundation of innovation that both companies possess.”
Sahil Nayyar said: “We are delighted to have advised on this significant transaction and to have delivered an excellent result for the shareholders. Panelbase is one of the largest data collection providers in the UK, and this strategic acquisition by Norstat will create a leading European operator in the market.”
Backed by global private equity investor, Triton Partners, Norstat says the deal strengthens its market footprint, and position in Western Europe, reinforcing its commitment to becoming the leading high-quality data collection company in Europe.
The acquisition was completed on July 21 and represents a major milestone in Norstat’s expansion strategy, following previous successful acquisitions across Europe combined with strong organic growth.
The integration of Panelbase will enable Norstat to deliver high-quality data on consumer and B2B markets in UK to clients throughout Europe and beyond. Panelbase’s proprietary panels and market position complement Norstat and jointly the companies will leverage Norstat’s market leading technology and digital solutions to extend the offering to clients.
The acquisition will add around 370,000 panelists from Panelbase to Norstat’s UK consumer panel, significantly expanding capacity. Paul Wealleans will serve as Managing Director for Norstat UK & Ireland and head the combined company post-integration.
Panelbase founders John and Fiona Raglan, said: “As the founders of Panelbase, we are extremely pleased with the outcome of this transaction. We are proud of what we have built and the combination of Panelbase with Norstat will form a significant European player within data collection, which will benefit both Panelbase clients and employees.
“We look forward to seeing the continued growth of the business under Paul’s leadership and wish the business all the best for the future.
Cavu and Square One Law guided and advised us through the whole process and we are delighted with the deal they have delivered for us.”