EQT, Verdane exit Forsta to Press Ganey

Forsta was formed through the March 2021 merger of Confirmit and FocusVision. Verdane acquired Confirmit in February 2020 through its Capital IX fund, while EQT acquired FocusVision in 2015 from its Mid Market US fund.

Verdane had owned a majority stake in Forsta, while EQT held a minority stake. EQT would not comment on returns, but said in a statement that the merger doubled the size of the business, as well as shifted the business towards software.

Forsta's platform serves 5,000 customers in 100 countries around the world, said buyer Press Ganey.

Press Ganey is a US company working on patient, member, employee and consumer experience across the healthcare ecosystem. It works with 41,000 healthcare institutions.

The transaction is expected to close in H1 2022.

EQT's Mid Market US Fund, which closed in 2016 on USD 726m, invested USD 50m-150m each in six assets. Forsta was the last asset to be realised.

Company
Forsta provides software and services for quantitative and qualitative market research to enterprise customers and market research professionals. Its services include surveys, reporting and video insights.

Advisers
Vendors – Jefferies (financial due diligence); Sidley Austin (legal).

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• Topics
• Healthcare
• UK / Ireland
• Exits
• EQT
• Verdane Capital Partners