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Norstat, backed by Triton, has acquired

Amsterdam – CFI is pleased to announce that it has acted as the exclusive corporate finance advisor to Norstat Group (‘Norstat’), backed by Triton, in the acquisition of

Founded in 2003, is a fast-growing data and service provider for the research industry in the Netherlands and is known for its high-quality standards and professionalism. The company has its headquarters in Amsterdam and research venue in Amersfoort. is a one-stop shop for online and offline data collection services, providing clients a broad range of services such as recruitment and venues to programming and quantitative data collection.

Norstat is the leading data collector for market research services in Europe. The company was established in Norway in 1997 and has since grown its geographical presence in Denmark, Sweden, Finland, Estonia, Latvia, Lithuania, Poland, Germany, the United Kingdom, France and Italy. Following the acquisition of, Norstat will have two offices in the Netherlands. Norstat employs more than 180 full-time employees and more than 1,500 part-time employees and is generating revenues of more than € 50 million.

The transaction is Norstat’s first acquisition in the Benelux, marking another milestone in the company’s growth strategy. is a perfect match for Norstat with its strong position in the field of respondent panels for market and UX research. Following the acquisition, Norstat will further increase its leading position as high-quality quantitative and qualitative data collection services provider in Europe.

“This acquisition adds market presence and a platform for further growth in the Netherlands and expertise to Norstat. It is very much in line with our overall strategy; to grow our existing position as an innovative, high-quality provider of data collection services – and to create the leading European player within this industry”, says CEO Mr Erling Eriksen.

CFI acted as exclusive corporate finance advisor to Norstat at the entry into the Dutch market by identifying potential acquisition targets, which resulted in the successful acquisition of on 9 July 2021. CFI assisted in approaching the shareholders, entering into exclusive discussions and ultimately negotiating a deal structure suitable for both parties. Mr Mats Beck (Head of Strategy and M&A of Norstat) commented on CFI’s role in the transaction: “CFI has delivered a highly appreciated outcome in this transaction for us, combining flawless execution and the ability to customise the entire process, resulting in a desired outcome for all stakeholders.”

Business Services

a portfolio company of

has acquired

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