Triton portfolio company Stabilus makes successful stock market debut at an opening price of EUR 22.75 per share
- First IPO of a Triton portfolio company
- Turnover and earnings have increased considerably since acquisition in 2010
- Expanded presence in growth markets of Asia and South America
- Greater investment in research and development, manufacturing technologies and sales
Frankfurt (Germany), 23 May 2014 - Funds advised by Triton ("Triton") have successfully completed the first IPO of a portfolio company. Today the globally active automotive and industrial supplier Stabilus S.A. ("Stabilus") began trading on the Frankfurt stock exchange at a price of EUR 22.75 per share, significantly over the issue price of EUR 21.50 per share.
Peder Prahl, Director of the General Partner for the Triton funds: "The IPO is an important step for Stabilus. Having direct access to the capital market gives the company more scope to continue growing organically and to build upon its strong market position worldwide."
Triton acquired Stabilus in 2010, in a challenging economic environment, invested fresh capital, re-structured the bank debt and thus prevented the company from collapsing. The fresh capital, a strategy jointly implemented with the management and substantially increased, targeted investment in new products and growth areas over the last four years provided the basis for the company's development into a truly global market leader. In recent years Stabilus has considerably expanded its presence in the Asian and South American growth markets, implemented a necessary focus of its European activities and significantly boosted its growth in North America. The company has also strengthened its sales activities in the industrial segment and expanded its customer base, for example among Chinese automakers. There is also a strong track record and further strong growth potential in the area of electromechanical drives (Powerise). Large strides forward have been made with the development and marketing of these products at the Stabilus headquarters in Koblenz under Triton's ownership, and as a result the company has already gained a market-leading position.
Dietmar Siemssen, CEO of Stabilus, added: "With a business-minded owner at our side we have managed to significantly increase our advantage over our competitors in terms of global presence, productivity and technical expertise. It was a crucial and good decision to invest in our international expansion, research and development and manufacturing technologies during an economically challenging period."
Stabilus has increased its number of employees worldwide from around 3,300 (2009/2010) to over 4,000 today. In recent years turnover has grown from around EUR 360m (2009/2010) to around EUR 460m (2012/2013), while adjusted earnings (EBIT) have risen from around EUR 36m (2009/2010) to around EUR 59m (2012/2013).
As a globally active automotive and industrial supplier, Stabilus develops and produces electromechanical drives, gas springs and dampers. The company is headquartered in Koblenz and employs around 4,000 people worldwide. In the 2012/2013 fiscal year, Stabilus generated sales of around EUR 460m and EBIT, adjusted for non-recurring effects, of around EUR 59m. Over the last four years, sales and adjusted EBIT have risen by an average of 8.6% and 17.6% per year. This trend has continued in the current business year: in the first half of 2013/2014 sales amounted to around EUR 246m. This represents roughly a 12% increase on the prior-year period. Adjusted EBIT rose to around EUR 30m, approximately 16% up on the prior-year period.
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Northern Europe - with a focus on Germany, Switzerland, Austria and the four Nordic countries: Denmark, Finland, Norway and Sweden. Within this European region, Triton focuses on businesses in the Industrial, Business Services and Consumer/Health sectors.
Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 26 companies currently in Triton's portfolio have combined sales of approximately 13 billion Euro and over 55,000 employees.
The Triton funds are advised by dedicated teams of investment professionals based in Germany, Sweden, the United Kingdom, Luxembourg and Jersey.
For further information: www.triton-partners.com