Waterland Private Equity & Lebara Group Announce Partnership
Waterland Private Equity has announced the acquisition of Lebara Group B.V, a Mobile Virtual Network Operator (MVNO) which offers top-quality telecommunications services to four million customers from across the UK, Netherlands, Germany, France and Denmark.
Waterland is an independent private equity investment group founded in 1999, which has made investments in over 1100 companies and which currently manages more than €14bn of investor commitments. The company has teams based across Europe, from Ireland to Norway.
Waterland has 25 years of experience in working with the telecommunications sector and following this acquisition, Waterland aims to support Lebara’s growth ambitions.
Lebara marks milestone with Waterland Private Equity buyout
Since it was founded in 2001, Lebara has become one of the most successful MVNOs in Europe, continually expanding its offerings. Lebara has also been steadily expanding in Africa through strategic partnerships. The company recently announced a move into the growing African market – facilitated by a brand licensing agreement with Nigerian-based VAS2Nets Technologies – which marks a significant milestone in the company's mission to bridge the digital divide and connect people across the globe.
We included the company in our Top 10 Mobile Virtual Network Operator (MVNO) Carriers 2023, for its dedication in keeping communities connected.
This transaction marks a buyout by Waterland Private Equity from the main existing owners Alchemy and Triton Partners. Waterland has been in discussion with the sellers and their advisors, working out strategies for Lebara’s transition and continued growth.
Lebara’s positioning as a value-focused challenger brand in the mobile SIM markets offers new growth opportunities, as customers in Europe continue to seek top-quality services at competitive prices. Lebara’s proven track record over the past few years, across its five markets, shows its ability to adapt, making it an ideal candidate for expansion. The partnership with Waterland will only strengthen this.
Lebara and Waterland Private Equity partnership to accelerate growth and enhance the customer experience
Wendy McMillan, Partner at Waterland Private Equity, said that the company was 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,” she said.
Stephen Shurrock, CEO of Lebara, shared that the partnership would provide the company with the resources and strategic support it needed to accelerate its growth and enhance our service offerings, ultimately benefiting customers across all markets.
“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,” he said. “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.”
Now Lebara has this latest digital platform, it can expand its focus on the customer experience to continue its growth story.
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