Infranode and Lyse buys Norwegian fiber company Sandefjord Bredbånd

Infranode has entered a partnership with Norwegian telecom company Lyse to acquire 100% of the shares in Sandefjord Bredbånd for an enterprise value of NOK 1,012 million. Lyse acquires 10% of the shares, and Infranode the remaining 90%, from Sandefjord municipality.

With its approximately 17 000 customers in Sandefjord, the company is the leading fiber actor in the area, with further investments planned in the coming five years. Sandefjord Bredbånd was established by the municipality in 2004 and has expanded the fiber network ever since. The network currently covers almost all households and businesses in the old municipality of Sandefjord.

“Our investment is driven by our ambition to continue to provide Altibox’s market leading broadband, TV and entertainment products to our long-standing customers. By acquiring a stake in Sandefjord Bredbånd, we commit to continue to improve the local fiber network and to provide the best customer experiences”
Says Executive Vice President Telecom Eirik Børve Monsen, Lyse.

Sandefjord Bredbånd will continue to provide its customers with market-leading broadband, TV and entertainment content delivered by Altibox which will secure continuity and stability. The Sandefjord Bredbånd organization will remain based locally and continue to serve the local citizens. By allowing new fiber investments through private capital, Sandefjord municipality can free up financial resources to address other local needs, supporting further growth and development in the region. The cash proceeds received by the sale will be reinvested in Sandefjord’s local fiber fund, where parts of the annual return will be used to fund municipal development over the coming years.

“We are pleased to have reached an agreement with Infranode and Lyse, that ensures the welfare of employees, customers, and the municipality. The proceeds from the sale will be managed with a long-term perspective and contribute to the implementation of important investments going forward.”
Says Bjørn Ole Gleditsch, mayor of Sandefjord municipality

“In this strategic acquisition together with Lyse, we will draw upon our extensive experience in investing in, owning, and managing Nordic infrastructure. We look forward to taking over from the municipality as a long-term and responsible owner of Sandefjord Bredbånd”
Says Erik Botnevik, Partner & Country Manager Norway, Infranode.

Skandinaviska Enskilda Banken AB is acting as sole financial advisor and Advokatfirmaet Simonsen Vogt Wiig as legal advisor to the municipality of Sandefjord.

About Lyse

Lyse is a Norwegian energy and telecom company. Lyse builds, maintains and upgrades critical infrastructure and delivers broadband and entertainment services through our national Altibox partnership. Our telecom services are delivered through our national brands: Altibox, Ice and NiceMobil.

About Sandefjord Bredbånd

Sandefjord Bredbånd is a Norwegian fibre company located in Sandefjord. The company offers internet, TV, and other services through the content provider Altibox and has ranked in the top of Altibox’s customer service survey for several years. As the largest provider in Sandefjord municipality, the company has an impressive customer base comprising of approximately 17,000 customers split on households, housing associations, and corporates.

Contact information

Infranode

Cornelia Böttiger
Communications Manager
+46 (0) 735 15 41 06
cornelia.bottiger@infranode.se

Lyse

Andreas Veggeland
Communications Manager
+47 982 96 708
andreas.veggeland@lyse.no