MUNICH – Katek, the second-largest German electronics manufacturing services provider, is preparing an initial public offering on the Frankfurt Stock Exchange in the second quarter of this year. The company expects proceeds of approximately €80 million, which will primarily be used for organic growth and acquisitions.

The planned offering will consist of newly issued shares and existing shares, with the private equity group Primepulse remaining the majority shareholder. Currently, top management holds a total of 4.5%, and the main shareholders Primepulse and Grosso Tec together hold around 91% of the shares in Katek.

Katek’s parent company reported 2020 sales of €414 million (US$496 million), up 59% year-over-year. The figures are expected to increase with the acquisition of Leipzig-based Leesys Group, which is coming out of bankruptcy.

"Within two years, Katek has developed into one of the leading electronics companies in Europe,” said CEO Rainer Koppitz. “The German and European industry needs strong electronics partners at their side to be successful in their markets. We are building a European champion and want to drive our profitable growth with the IPO. “

"Despite the more difficult conditions in the Corona pandemic year 2020, the operating EBITDA margin was increased to 5%,” said CFO Johannes Fues, Ph.D. “Our medium-term target is an EBITDA margin of 10%. With the IPO, we are taking the next step in the expansion of the Katek Group."

Ed.: €1 = US$1.20

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