Clearfield closes acquisition of nestor cables oy, a leading european developer and manufacturer of fiber optic cable solutions

Minneapolis, minn., july 27, 2022 (globe newswire) -- clearfield, inc. (“clearfield”) (nasdaq: clfd), the specialist in fiber management and connectivity platforms for communication service providers, closed its previously announced acquisition of finnish company nestor cables ltd. (“nestor”), a leading developer and manufacturer of fiber optic cable solutions on july 26, 2022. the total transaction value including fees of approximately usd $23 million and was funded primarily through clearfield's credit facility. nestor will operate as subsidiary of clearfield and its financial results will be reported accordingly. clearfield expects to the acquisition to be accretive to earnings in fiscal 2023, pending closing and standard integration costs.
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