The deal, subject to regulatory approval, has been in discussion with the parent company of the MVNO group, Alchemy and Triton Partners, and their advisors since January 2024, exploring strategies for Lebara’s seamless transition and continued growth.
Meanwhile, with this acquisition, Waterland aims to support Lebara’s growth ambitions in each of its markets, the company stated.
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The MVNO group currently provides telecommunication services to over four million customers across France, Germany, the Netherlands and Denmark.
According to Waterland, “Lebara’s strategic positioning as a value-focused challenger brand in the mobile SIM markets presents significant growth opportunities as consumers across Europe increasingly seek high-quality services at competitive prices.”
Lebara, CEO, Stephen Shurrock, said: “We are excited to join forces with Waterland Private Equity. Their extensive experience and successful track record in the telecommunications industry make the Waterland team an ideal partner for us.
“This partnership will provide us with the resources and strategic support needed to accelerate our growth and enhance our service offerings, ultimately benefiting our customers across all our markets. It has also been our pleasure to work with Alchemy and Triton over the last few years.”
He added: They have been hugely supportive of the Lebara turnaround and have invested in the company to achieve significant growth. Lebara now has the latest digital platform, a focus on customer experience and a strong team to continue its growth story.”
Waterland Private Equity, Partner, Wendy McMillan, continued: “We are thrilled to partner with Lebara and its talented management team. Lebara has built a strong brand and loyal customer base by providing high-quality mobile telecommunications services at competitive prices.
“ We look forward to working closely with the management team to continue on Lebara’s growth journey together, leveraging our expertise in the telecommunications sector.”
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