Macfarlanes has advised leading Mobile Virtual Network Operator (MVNO) Lebara on its strategic partnership with Waterland Private Equity.

The transaction marks a buyout by Waterland Private Equity from the main existing owners Alchemy and Triton Partners.

Founded in 2001, Lebara has become one of the most successful MVNOs in Europe, continually expanding its offering and geographic footprint. Today, it is recognized as a leading challenger brand in its European mobile telecommunications markets, providing over four million customers with a great value alternative to the established category players, as well as exceptional customer satisfaction.

The Macfarlanes team was led by private equity partner Alexander Green and included competition partner Malcolm Walton, corporate and M&A senior associate Jordan Treacy-Jacobs, associate Maddie Walls, tax senior counsel Shaul Steinberg and associate Krishant Sen, commercial associate Markos Day, competition senior associates Andrew Morrison and Charlie Critchley.