Vestum acquires fiber specialist company Fibber in Norway
April 2022 — Vestum AB, through Vestum Norway AS, has acquired Fibber AS. The purchase price has been financed mostly by cash and partly with Vestum shares.
Fibber was founded in 2016 by experienced industry professionals and is specialized in the design, planning, installation and service of fiber optic networks, primarily in the Oslo region. Fibber’s customers include telecom companies and leading internet service providers. The company has connected more than 25,000 homes since inception. It has developed unique solutions for efficient quality deliveries, addressing the customers’ increasing needs for high-quality and cost-effective connections provided by a specialized and predictable deployment partner. Growth to-date has been backed by key loyal and ambitious partner-customers valuing Fibber’s competence, operational excellence and service-oriented attitude. The firm has a scalable project execution model based on internally developed software tailor-made for fiber network project management, which is a key point in the company’s ability to achieve best-in-class risk-management, efficiency and profit margins. Fibber has 25 employees and is headquartered in Oslo, Norway. In the fiscal year of 2021, the company generated sales of US$4 million, with an adjusted EBITA margin above 20%.
Sven Lombardo, CEO at Fibber, said: “The way we see it, the construction industry will change significantly in the coming years. The digitalization of society is a megatrend, and the network operators are investing heavily in fiber infrastructure that is moving further and further towards end users and equipment. IoT, 5G and the technological shift from copper to fiber will require that the communication network is planned, built and operated smarter and better. Fibber has developed specialized work methods and tailored IT systems that have made it possible to grow quickly and have satisfied customers. We have seen how Vestum has developed other companies they own and are confident that they have the resources and industrial network to develop Fibber together with our management and employees. We look forward to working with Vestum to unleash Fibber’s full potential in the years to come.”
Vestum Norway AS is a subsidiary of Vestum AB, a Swedish acquisition-driven company focused on acquiring and developing specialist companies within the water, services and infrastructure segments. Vestum is actively looking for high-quality companies with proven business models, strong market positions and predictable cash flow, where it can be involved and contribute to continued positive development. Vestum's shares are traded under the short name VESTUM on Nasdaq First North Growth Market Stockholm.
Conny Ryk, CEO at Vestum, said: “Today we welcome Fibber – a Norwegian specialist company – to Vestum! Fibber has a clear niche within the fiber optic networks, possesses a high degree of technical knowledge and conducts its business with good profitability. This is exactly the kind of company Vestum is looking for and it therefore feels particularly good that Fibber and the previous owners want to join the Vestum family and continue to develop and strengthen Vestum’s position in Norway. Fibber will be Vestum’s first acquisition in Norway within the infrastructure segment.”
Our role in the transaction
Oaklins’ team in Norway acted as sell-side financial advisor to the shareholders of Fibber.
Talk to the deal team
Related deals
Comtax has been acquired by Ryan
Comtax, a São Paulo-based tax technology consultancy specializing in tax determination and digital tax compliance, had been acquired by Ryan, the world’s largest firm dedicated exclusively to business taxes. The transaction marks Ryan’s entry into the Brazilian market, adding a specialized team and an established base of large corporate clients in Brazil, one of the world’s most complex tax environments, at a time when the country’s consumption tax reform is set to reshape how companies calculate and report indirect taxes. For Comtax, the acquisition brings access to Ryan’s global platform, technology and client network across more than 80 countries, creating opportunities to scale its tax determination and compliance offering beyond its current footprint. Comtax’s founders will continue to lead the business.
Learn moreMulti-Tech and AGJ have been acquired by Wicotec Kirkebjerg, part of the Aarsleff Group
Rent-Tech A/S, including its subsidiaries Multi-Tech A/S and Asger G. Jørgensen A/S (AGJ), has been acquired by Wicotec Kirkebjerg A/S, part of the Aarsleff Group. The transaction creates a strong platform for continued growth and development. With the acquisition of Rent-Tech, Wicotec Kirkebjerg strengthens its industrial service offering and position in West Zealand, Denmark, expanding its capabilities in electrical installations, specialized piping and metalwork services. As part of Wicotec Kirkebjerg, Rent-Tech gains access to additional resources, expertise and larger-scale project opportunities while maintaining their local presence, management teams and long-standing customer relationships. All businesses will continue to operate under their existing brands and leadership teams.
Learn moreNextalia has acquired a majority stake in Witapp
Nextalia SGR S.p.A. has acquired a majority stake in Witapp S.r.l., an Italian company specializing in software development for the digitization of healthcare infrastructure. The acquisition strengthens Nextalia’s track record in technology companies serving the public sector and supports its strategy of investing in businesses operating at the intersection of healthcare digitization and the modernization of public services.
Learn more