Clearfield, Inc. (NASDAQ: CLFD), a company focused on fiber management and connectivity platforms for communication service providers, announced it has entered into a definitive agreement to acquire Finnish company Nestor Cables Oy. Nestor is a developer and manufacturer of fiber optic cable solutions in Europe. The pending acquisition follows a long-standing relationship between Clearfield and Nestor, who have worked together for over a decade.
Founded in 2007 in Oulu, Finland, Nestor’s portfolio includes fiber optic cables, connectivity accessories for fiber optic networks and instrumentation, and the Nestor Optimus product family for microduct networks. Nestor offers its customers fiber to the home (FTTH) and fiber to the premises (FTTP) applications.
Since 2012, Nestor has supplied fiber optic cables for Clearfield’s FieldShield product line. This acquisition is designed to enable Clearfield to vertically integrate the supply of its fiber optic cables to meet future customer demand. Furthermore, Clearfield anticipates leveraging Nestor’s experience in optical design, to extend the available supply of FieldShield fiber into the North American market. Clearfield expects to open optical fiber production in its Mexico facility and begin production of optical cable in North America in early calendar year 2023.
“The acquisition of Nestor is a significant milestone for Clearfield,” said company President and CEO Cheri Beranek. “Nestor’s focus on providing its customers with reliable and flexible deliveries, quick reaction times, and operational efficiency is entirely aligned with Clearfield’s company culture. Moreover, Nestor employees have deep expertise in fiber optical development and manufacturing, with many employees who gained their skills with the production of optical cable by Nokia years ago. We are excited for the potential opportunities afforded by this acquisition, namely the ability to leverage their fiber optic cable expertise in our own manufacturing facility in Mexico and, in the longer term, evaluate the opportunity to enter the European market with our fiber management solutions.”
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