HGGC Invests in Consumer, Business Data Group
Palo Alto, California private equity firm HGGC is investing in technology company Survey Sampling International LLC.
Shelton, Connecticut-based Survey Sampling provides data and technology for consumer and business-to-business research. After the deal closes, HGGC will be Survey Sampling's majority owner. Private equity firms Providence Equity partners and Sterling Investment Partners sold parts of their stakes, but will each maintain ownership in the company. Terms of the deal were not disclosed.
The target was founded in 1977 and provides market research insights through more than 31 million surveys per year. The company has more than 3,000 customers, including consulting firms and Fortune 500 businesses. Survey Sampling has 25 offices in 18 countries.
The company says HGGC's investment should help it continue to grow its global footprint and enhance product and technology offerings. After the deal closes, HGGC CEO Rich Lawson will become chairman of Survey Sampling's board. For more with Lawson, watch our video interview, Pent-Up Demand for E-Commerce Technology Drives M&A.
HGGC focuses on technology-related investments. The firm's recent deals include the add-on of the Composites Group to portfolio company Citadel Plastics Holdings Inc. in October, and acquisition of insurance company Pearl Holding Group in September.