Grant Thornton supports two international deals for Toluna

19 July 2023 Consultancy.uk 2 min. read

Toluna, a global market research and consumer insights company, has taken advise on two strategic international acquisitions from Grant Thornton. The firm acquired North American firm Gutcheck and European company MetrixLab over a six-month spell. 

The international team, comprising transaction advisory service (TAS) and tax professionals from Grant Thornton UK, was assisted by colleagues in the US, India and the Netherlands.

Partner John Panteli remarked, “Toluna’s recent acquisitions have cemented its status as a true global leader in the market research and insights sector. We are delighted to have helped this ambitious and increasingly technology led business continue to scale-at pace to enable it to offer its international clients the optimum service they expect.”

Grant Thornton supports two international deals for Toluna

The first acquisition saw client Toluna purchase Brainyak Inc – trading as Gutcheck – for an undisclosed fee. Gutcheck is an agile US based market research agency that deploys quantitative, qualitative, and behavioural data to help global brands make better decisions with speed and confidence. The deal, which concluded at the end of 2022, saw Toluna boost its presence across North America – with Gutcheck’s tools and methodologies into Toluna Start, an end-to-end insights platform for employers across the continent.

The second acquisition by Toluna concluded at the start of June 2023. The deal for Netherlands-based MetrixLab saw the technology-driven research solutions firm snapped up by Toluna, also for an undisclosed sum – while former owner, Japanese listed business, Marcromill, takes on a minority interest.

MetrixLab is specialises in creative testing, brand tracking, packaging and e-commerce optimisation, supporting more than half of the world’s top 100 brands in the process. The addition took Toluna’s global headcount to over 2,500 staff, and enables it to serve clients across 90 global markets.

The Grant Thornton team for the deals was led by John Panteli, a TAS partner at the firm, and James Pitts, a director. The team provided financial due diligence and buyside-support across the two deals, while tax structuring advice was also provided by Chris Mundy and Isabel Thomas.

Elsewhere, Grant Thornton’s team also included SPA advice led by Patrick O'Brien. Tax due diligence was provided by the UK firm, led by Meredith Miller, supported by GT India, GT Netherlands and GT US, and Rishi Shah and Amy Gardiner supported Toluna with valuations advice. 

“It was great to collaborate with our colleagues in the US, Europe and India on these significant transactions, and we look forward to seeing Toluna continue to thrive,” added Panteli.