Clearfield, Inc. agreed to acquire Nestor Cables Oy for $22.8 million.
May 16, 2022
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Clearfield, Inc. (NasdaqGM:CLFD) agreed to acquire Nestor Cables Oy for €22.8 million on May 17, 2022. Clearfield expects to fund the acquisition through its credit facility. In 2021, Nestor generated EUR €31.7 million in revenue under Finnish Accounting Standards. The transaction is subject to customary Finnish regulatory approvals and is expected to close in a few months. Needham & Company, LLC acted as financial advisor to Clearfield, Inc. (NasdaqGM:CLFD). Ballard Spahr LLP and Avance Asianajotoimisto Oy acted as legal advisor to Clearfield, Inc. (NasdaqGM:CLFD). Teknoventure Oy acted as financial advisor and JV Lakiasiat Oy acted as legal advisor to Nestor Cables Oy. The transaction is expected to close during the early part of the third quarter of 2022.
Clearfield, Inc. designs, manufactures and distributes fiber protection, fiber management and fiber delivery solutions to enable fiber-fed deployment throughout the broadband service provider space primarily across North America. It has two segments: the Clearfield Operating (Clearfield) and the Nestor Cables Operating (Nestor). Clearfield segment is focused on providing fiber management, fiber protection and fiber delivery products that accelerate the turn-up of fiber-based networks in residential homes, businesses and network infrastructure on the wireline and wireless access network. It offers a portfolio of fiber products that allow service providers to build fiber networks faster, meet service delivery demands, and align build costs with take rates. Nestor segment manufactures fiber optic and copper telecommunication cables and equipment, which it distributes to telecommunication operators, network owners, electric companies, building contractors and industrial companies.
CLEARFIELD, INC. 
