London, 12 August 2024 – Waterland Private Equity is pleased to announce the acquisition of Lebara Group B.V. (“Lebara”), a leading Mobile Virtual Network Operator (“MVNO”) providing high-quality telecommunications services to over four million customers across the UK, Netherlands, Germany, France, and Denmark.
Founded in 2001, Lebara has become one of the most successful MVNOs in Europe, continually expanding its offering and geographic footprint. Today, it is recognized as a leading challenger brand in its European mobile telecommunications markets, providing over four million customers with a great value alternative to the established category players, as well as exceptional customer satisfaction.
The 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 since January 2024 exploring strategies for Lebara’s seamless transition and continued growth.
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 in partnership with Waterland.
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.
“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.”, says Wendy McMillan, Partner at Waterland Private Equity.
Stephen Shurrock, CEO of Lebara, also shared his thoughts on the new partnership: “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 strong team to continue its growth story.”
As with all deals and transactions of this nature, this partnership is subject to necessary regulatory approvals before the acquisition can be completed.
Press Contact:
Ellie Hallam
Phone: +44 7502 409118
E-mail: ellie@wearehollr.com
ABOUT LEBARA
Lebara Group B.V. is a Mobile Virtual Network Operator (MVNO) offering high-quality, cost-effective telecommunications services. Serving over 4 million customers across the UK, Netherlands, Germany, France, and Denmark, and operating brand license agreements in a further 5 markets around the world, Lebara is the smarter choice for value-conscious consumers.
ABOUT ALCHEMY
Alchemy is a leading European corporate special situations investor. The Partners, Thomas Boszko, Ian Cash, Alex Dupée, Alex Leicester, John Rowland, Dominic Slade and Toby Westcott, have worked together for 12 years and lead a team of 25 investment professionals including experienced Senior Advisers and Portfolio Consultants.
Alchemy is focused on the mid-market and is a specialist in acquiring control of businesses through debt and equity. The firm has invested over £3bn since 2006 across more than 80 companies, spanning a broad range of sectors including financial services, hospitality and housebuilding.
For more information, please visit www.lebara.com.
