Clearfield closes acquisition of Nestor Cables Oy
Wed Aug 03 16:33:00 2022
Clearfield, Inc. closed its previously announced acquisition of Finnish company Nestor Cables Ltd., a leading developer and manufacturer of fibre optic cable solutions on July 26, 2022. Clearfield signed an agreement to acquire the entire share capital of Nestor Cables in May 2022. Nestor Cables will operate as subsidiary of Clearfield.
Clearfield, the specialist in fibre management and connectivity platforms for communication service providers, has been a good customer of Nestor Cables for ten years. Clearfield employs more than 600 people in the USA and Mexico, and the company's operations are growing rapidly.
"Closing the acquisition of Nestor is a significant accomplishment for Clearfield, and we are thrilled to welcome the Nestor team to Clearfield at this important moment for the fiber broadband industry", said Company President and CEO Cheri Beranek in a press release by Clearfield. Beranek also said: ”We look forward to working closely with the Nestor team to realize the many synergies that the combination offers our two companies.” Read the press release by Clearfield.
”Nestor will acquire a strong industrial owner from Clearfield, which will enable us to better develop our operations and product range, as well as increase our production capacity at the Oulu and Keila factories.”, said CEO of Nestor Cables Jarmo Rajala.
Despite the acquisition, Nestor Cables will continue to operate under its own brand, so all familiar Nestor Cables products and services will continue to be available.