NASHVILLE COMPANY BOUGHT BY GLOBAL MARKET RESEARCH FIRM
Nashville-based market research firm 20|20 Research has been bought by Schlesinger Group, according to a news release. Terms of the deal were not disclosed.
The purchase includes 20|20’s focus group facilities in Charlotte, Nashville and Miami. 20|20 CEO Issac Rogers will stay with the company as its chief innovation officer, according to the release. The company has 150 employees, about 90 of whom are in Nashville.
The addition of 20|20 will expand the web-based research capabilities of New Jersey-based Schlesinger, according to the release. While the deal was in motion prior to the Covid-19 pandemic, Rogers said the crisis has highlighted the industry shift from in-person focus groups to online digital research.
This is digital’s moment to take hold of the industry,” Rogers said in the release. “Covid-19 isn’t going to change the future; it’s going to accelerate how fast the future gets here. Our role is to prepare for a future that will come faster than we originally thought.”
Founded in 1965, Schlesinger has offices in 17 U.S. cities and four European countries providing quantitive data collection and research services, according to its website. The company is owned by Gauge Capital.
Chattanooga-based Oaklyn Consulting provided investment banking services to 20|20 as part of the transaction.
“We were honored to assist 20|20 Research in this transaction, which will position the combined companies for continued growth in the digital qualitative research field,” Oaklyn CEO Frank Williamson said in the release. “As we adapt our traditional business processes to the new reality brought on by Covid-19, 20|20 Research is uniquely capable of providing useful data that clearly explains the changing motivations and needs of consumers.”