Vestum acquires Norwegian specialist company Fibber
Vestum AB (publ) (”Vestum”) has, through Vestum Norway AS, agreed to acquire 100% of the shares in Fibber AS (”Fibber”). The purchase price will partly be financed through payment in reverse, which will then be set off against shares in Vestum through offset issues. Fibber will be included in Vestum’s Infrastructure segment. In the fiscal year of 2021, Fibber generated sales of NOK 34 million. Fibber has an EBITA margin that is higher than the Vestum Group’s adjusted EBITA margin.
Fibber’s financials are expected to be consolidated into Vestum from April 2022, provided that the indicative timetable for the completion of the acquisition can be followed.
Today we welcome Fibber, a Norwegian specialist company, to Vestum! Fibber has a clear niche within 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 fun 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.Conny Ryk, CEO of Vestum
About Fibber
Fibber was founded in 2016 and performs design, installation, and service of fiber optic networks in primarily the Oslo region. Fibber’s customers include telecom companies and leading internet service providers. Fibber has 25 employees and is headquartered in Oslo.
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 get 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 management and employees. We look forward to working with Vestum to unleash Fibber's full potential in the years to come.Sven Lombardo, CEO of Fibber
Oaklins advised the shareholders of Fibber.
