Hexham data collection provider Panelbase bought by Norstat

An independent data collection provider has been taken over.

Hexham-headquartered Panelbase is now part of Norway’s Norstat.

Bosses say the deal will add 370,000 panellists to Norstat’s portfolio, bolstering its presence across the UK and Europe.

As part of the deal, Panelbase founders John and Fiona Raglan have stood down, with Paul Wealleans taking on the role of Norstat UK and Ireland managing director.

John and Fiona said: “We are proud of what we have built, and the combination of Panelbase with Norstat will form a significant European player within data collection.

“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.”

John and Fiona 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 received financial support from Detlev Andersen, of Kinnair Associates.

Sahil said: “We are delighted to have advised on this significant transaction and to have delivered an excellent result for the shareholders.”

Charlie added: “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.”