Lifco has signed an agreement to acquire a majority shareholding in Norwegian Fiberworks AS from the company´s founder and key employees.
Fiberworks partners with broadband operators and the fiber optic community to build tomorrows internet. The company provides optical transceivers, fiber cabling, wavelength multiplexers, media convertors, and testing and measurement instrumentation for the European fiber market.
The company was founded in 1990 and is located in Oslo, Norway. In 2016, Fiberworks reported net sales of approximately 93 MNOK, an increase of some 40% from 2015. The company employs 14 highly skilled professionals who will co-operate with Pro Optix AB based in Stockholm, Sweden which Lifco acquired in June 2017. Fiberworks management and key employees will continue as minority shareholders in both Fiberworks and Pro Optix going forward.
Alpha Corporate Finance has acted as exclusive financial advisor to Fiberworks and its shareholders.
Fiberworks is a leading Norwegian supplier of fiber optic products. It is the largest independent provider of transceivers, dominant on splice machines and test & measurement equipment and growing positions on xWDM multiplexers and passive optical components.
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. Lifco 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. In 2016, the Group’s net sales amounted to SEK 9 billion and the EBITA margin was 15%.