NEWS10 April 2024

Norstat to change ownership

Data analytics Europe M&A News

NORWAY – Data collection company Norstat is to be sold by Triton to investment firm Nalka Invest for an undisclosed amount.

Oslo Norway_crop

Norstat, which was founded in Norway in 1997, was acquired by Triton in 2019, and then subsequently acquired seven companies across Denmark, the Netherlands, Norway, Switzerland and the UK between 2021 and 2023. The company is headquartered in Oslo.

Under its new ownership, Norstat said it would continue to focus on strategic investments for growth and development, as well as its current range of work. The deal is subject to customary regulatory approvals.

As part of the deal, Kirk Kapital has come on board as a large minority shareholder alongside Nalka Invest.

Erling Eriksen, chief executive at Norstat, said: “During the years of Triton’s ownership, we have sought out new routes and opportunities; undertaken a rapid technological shift, launched several digital products and completed seven successful acquisitions and integrations. It’s been a great journey, made possible by fantastic employees dedicated to high-quality data and client service.

“In Nalka, we have found a new partner that is able to support us from the strong position we have today, and we are very much looking forward to the cooperation.”

Daniel Björklund, investment advisory professional at Triton, said: “The team at Norstat have achieved great results and we are happy to conclude a very successful journey together.

“We have been able to drive significant growth, expanding Norstat’s offering and geographical reach, while continuously building on its strong commitment to quality and client service. We believe Nalka is the right partner to continue Norstat’s positive development and we wish them every success together.”

Martin Lagerblad, managing director at Nalka Invest, added: “Norstat is truly a leading company within its market, that we have followed over time. We are impressed by the team and its position as the go-to provider of high-quality data and insights in Europe.

“The deal is pending regulatory approval, but we are looking forward to our future cooperation with Norstat and to contribute to the company’s development. We are also glad to partner with Kirk Kapital as a large minority shareholder, a strong partner sharing our values and long-term perspective on business development.”