Alchemy first invested in Lebara in 2018 when, following a period of underperformance under prior ownership, it acquired the business. As the control shareholder, Alchemy has since overseen the recruitment of a new chairman, Carl Leave, as well as a new CEO, Stephen Shurrock.
The business has migrated from being a predominantly pre-paid offering to attracting more SIM-only and post-paid customers, resulting in the subscriber base increasing from 2.4m in 2019 to 4.4m today and the business’ profitability more than doubling over Alchemy’s ownership period, according to a press statement.
Source: Â Private Equity Wire
Can’t stop reading? Read more
US Pipeline Operator ONEOK Inks Two Deals for $5.9 Billion
US pipeline operator ONEOK Inc. agreed to buy a Permian Basin rival and a controlling stake in...
Blackstone Is Said to Seek A$5.5 Billion Loan for AirTrunk Bid
Private equity firm Blackstone Inc. is in discussions with banks for a five-year loan of about...
Thrive Capital to lead multi-billion dollar OpenAI investment round at $100bn valuation
OpenAI, the company behind the popular AI tool ChatGPT, is in advanced talks to secure several...