Nalka Invest and Kirk Kapital acquire leading market research company Norstat

General news   /  


Kirk Kapital partners with Nalka Invest as it has entered into an agreement to acquire Norwegian Norstat from private equity firm Triton. Kirk Kapital will, pending regulatory approval, become a large minority shareholder (c. 28%). Norstat is the leading independent European data collector for market research.


Norstat AS (‚ÄúNorstat‚ÄĚ) serves more than 2,000 market research firms, brands, media & advertising agencies, publishers, and consultancies across different industries. It delivers real data collected from real people across Europe that can be trusted to drive decision making. The company has offices in 15 European countries and has data collection capabilities in 19 countries in total. Norstat has access to over 2 million consumers and decision makers that provides the company with high quality data.


Following the completion of the acquisition, Nalka will be the majority shareholder and Kirk Kapital will own c. 28%. Management and board members of Norstat will continue as shareholders.


Kim Gulstad, CEO of Kirk Kapital, is looking forward to the partnership with both Norstat and Nalka.


‚ÄúNorstat is a very exiting company. In a world with strict GDPR requirements and a wish for increased consumer understanding, the company is uniquely positioned to provide its clients with valuable insights into customer preferences, enabling the clients to make qualified decisions. Kirk Kapital is pleased to be able to support Norstat in its continued impressive growth journey, both organically and through acquisitions.‚ÄĚ


On the partnership with Nalka, Kim Gulstad further elaborates:


‚ÄúKirk Kapital has known Nalka for several years, and we are very pleased to join forces with Nalka as co-investor in Norstat. Both organisations have a similar entrepreneurial heritage with our historical links to IKEA and LEGO, respectively.‚ÄĚ


Martin Lagerblad, Managing Director of Nalka Invest, comments:


‚ÄúNorstat 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. We are looking forward to our future cooperation with Norstat and to contributing to the company‚Äôs 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.‚ÄĚ


The transaction is subject to customary regulatory approvals.


Contact details


Morten Huse Eikrem-Jeppesen, PressConnect for Kirk Kapital, +45 53 85 07 70


About Norstat
Norstat offers market and business data collection through scientifically proven, sustainable, and fair collection methods. Norstat’s methodological recommendations are based on your needs and the questions at hand, rather than its own product portfolio. For further information:


About Nalka
Nalka is an investment firm investing in market-leading small and medium-sized businesses based in the Nordic and DACH regions. Nalka has offices in Stockholm and Munich and develops independent, competitive, sustainable and long-term profitable companies, through commitment and cooperation. Read more at


About Kirk Kapital
Kirk Kapital is a family-owned investment company owned by the Kirk Johansen family. The Kirk Johansen family are descendants of Ole Kirk Christiansen, who established LEGO. Kirk Kapital manages approx. DKK 19 billion in AUM invested within Strategic Investments and Financial Investments. Within the Strategic Investments, Kirk Kapital is an active long-term owner with larger minority positions in 16 companies. See