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Swiss Family Office Buys Out British Telecom Company

September 21, 2017 | Kathleen Leahy

Swiss Family Office Buys Out British Telecom CompanyPalmarium, a Swiss private family office and investor, has acquired London-based Lebara, a mobile company, and the Lebara Trademark Companies. No financial terms were disclosed. As a result of the deal, Lebara’s founders are leaving the company while Graeme Oxby will take over as CEO.

Since its inception in 2001, Lebara is recognized as one of the fastest growing pan-European mobile companies. Through its 275,000 outlets, Lebara has a unique reach to its growing customer base of over 3.5 million. Palmarium's acquisition gives Lebara strong backing and expertise to grow and drive the digitalization of the business.

Graeme Oxby will lead Lebara moving forward. Oxby is a highly experienced CEO for innovative telecom companies, bringing executive experience from prominent brands such Three and Virgin. At Virgin, he transformed its business from prepay only to a contract business. Most recently, he was Managing Director of Liberty Global’s European Mobile Business, where he successfully launched five new territories.

“Lebara is a vibrant and exciting growth business with a great deal of potential. I… believe this acquisition, combined with the strength of the new leadership team and its strong investors, will take this business to the next level,” Oxby said.

Palmarium is a Swiss private family office and investor with a focus on alternative investments, including private equity and real estate. They leverage their networks to identify opportunities and structure proprietary transactions around them, with the unique ability to manage complex businesses and situations. They boast a rare combination of deep sector knowledge and a singular commitment to their principals and partners, reflected in their investment performance and diverse portfolio of businesses.

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Source: https://www.pehub.com/2017/09/palmarium-buys-mobile-company-lebara/#

Tags: Family Office News family offices private equity