FrankfurtThe Darmstadt-based battery system provider Akasol plans to go public in June. This was announced by the company on Tuesday. According to insiders, shares worth 100 to 125 million euros are to be sold to investors. In the IPO Akasol should be valued at 400 to 500 million euros.
Akasol’s majority shareholder Sven Schulz wants to double the production capacity in Langen by 2020, raise a plant in the USA and build a research and development center at the headquarters in South Hesse. Schulz estimated the order backlog at 1.45 billion euros in the discussion with the Handelsblatt, and in the medium term sales should rise to 300 million euros.
The IPO, the initial public offering – IPO for short – should be an almost pure capital increase. “European companies, but also Chinese, Koreans and financial investors wanted to join us, but we value independence and were concerned that investors could steer us in the wrong direction,” says Schulz, whose group holds 76 percent of the shares.
Ceinex: This is how Chinese companies are supported on the Frankfurt Stock Exchange
Akasol was spun out of TU Darmstadt ten years ago. The roots go back to the year 1990, when Akasol was founded as a nonprofit association of students and professors. Growth imagination pulls the enterprise from the plans of the European large cities, to convert their buses on electric drives. Akasol has been in the profit zone for three years, and Schulz estimated the net debt at 3.5 million euros.
Current club events
Tuesday, 05.06.18, 12:30 Berlin: Curry & Politics
Thursday, 07.06.18, 17:00 Ludwigsburg: IT meets art
Thursday, 07.06.18, 18:30 Düsseldorf: Goldschmiedeabend at Wellendorff
Thursday, 07.06.18 Dusseldorf: WHU – Mergers & Acquisitions in Practice Program
Thursday, 07.06.18 Berlin: WHU – Design Thinking Program
Monday, 04.06.18, 16:00 Bonn: Handelsblatt Annual Conference Digital Energy Industry
Founded in 2008, the company hopes to benefit from the electric car boom, Akasol manufactures battery systems used in buses, industrial and commercial vehicles, ships and rail vehicles. Count among the biggest customers Daimler and Volvo,
For 2018 Akasol is planning with a turnover of 22 to 24 million euros and an operating profit (EBIT) of around 1.5 million. Schulz believes that in the commercial vehicle sector, e-mobility is progressing faster than in other areas, because this is where mass production starts with major providers.
Akasol has the support of the planned listing Citigroup, the Commerzbank, Lazard and the bank house lamp hired.
Last October had Voltabox celebrated a furious debut on the floor, The IPO of the manufacturer of battery systems for electric buses, forklifts and other industrial vehicles brought 150 million euros, although the company made in 2016 just 14.5 million euros in sales and wrote losses.
*/
]]>
The most important news every morning in your inbox.