Lifco AB has acquired a 75% stake in Fiberworks AS
Lifco AB has acquired a 75% stake in Fiberworks AS for an undisclosed consideration.
Lifco acquires and develops market-leading niched operations with the potential to deliver sustainable profit growth and strong cash flows. The group is listed on Nasdaq Stockholm and has three business areas: dental, demolition & tools and systems solutions. The company has a clear corporate philosophy which implies a long-term perspective, focus on profits and a highly decentralized organization. Lifco has 133 companies in 26 countries.
Founded in 1990, Fiberworks is a leading Norwegian supplier of fiber optic products. It is the largest independent provider of transceivers, with a dominant position on splice machines and test & measurement equipment, and growing on xWDM multiplexers and passive optical components. In 2016, Fiberworks reported net sales of approximately US$11.7 million, an increase of 40% from 2015. Fiberworks will cooperate with Pro Optix AB, based in Stockholm, Sweden, which Lifco acquired in June 2017. The management team and key employees will remain as minority shareholders in both Fiberworks and Pro Optix going forward.
Oaklins' team in Norway identified the target and acted as advisor to the buyer in this transaction.
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