News
Sale discussions have been ongoing since January
Investment company Waterland Private Equity has acquired Mobile Virtual Network Operator (MNVO) Lebara for an undisclosed sum.
Founded in 2001, the company offers SIM-only mobile phone plans to around 4.4 million subscribers UK, France, Germany, Netherlands and Denmark. In the UK, it uses Vodafone’s national network to provide its 4G and 5G services.
Lebara is known for its focus on affordable, no-frills services tailored to the needs of international communities, providing cost-effective options for international calls. Over time, it has expanded its offerings to include mobile voice, data, and messaging services across many countries.
Current owners Alchemy and Triton Partners took on the company in 2019 and invested €25 million in 2021. Last December, the Financial Times reported the company was considering a possible sale. The group confirmed that it was working with advisors to assess its options.
“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,” said Lebara CEO Stephen Shurrock in the announcement’s press release.
“Lebara has built a strong brand and loyal customer base by providing high-quality mobile telecommunications services at competitive prices,” echoed Wendy McMillan, partner at Waterland Private Equity.
“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,” she continued.
The deal is subject to standard regulatory approval.
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