Leading MVNO Lebara has been sold to the European private equity firm Waterland Private Equity by its main existing owners, Alchemy and Triton Partners, who acquired the MVNO in 2020.
The deal is subject to regulatory approvals.
Waterland specializes in a “buy-and-build” strategy, acquiring and consolidating businesses. It was established in 1999 and has its headquarters in Bussum, Netherlands. Waterland manages over €14 billion in investments and operates across 13 offices in 11 countries.
Waterland has promised a seamless transition and continued growth and stated:
“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’s strong track record across its five markets demonstrates its ability to grow and adapt, making it a prime candidate for further expansion.
“Waterland has 25 years of experience in partnering with companies across Europe and brings extensive experience in the telecommunications sector through investments over that time. With this acquisition, Waterland aims to support Lebara’s growth ambitions in each of its markets.”
Wendy McMillan, Partner at Waterland Private Equity, added:
“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.”
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. 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.”