(BFM Bourse) – The Angevin company, specializing in protective equipment against the risks of explosions in industrial environments, is aiming for an entry on Euronext Growth. Stif is counting on the Stock Exchange to finance its development in the market for securing battery energy storage systems.
A final IPO to end a poor year in 2023? And it is the company Stif which could close the ball of operations in Paris since it is aiming for an entry on Euronext Growth, the compartment dedicated to small and medium capitalizations.
Based in Saint-Georges-sur-Loire, not far from Angers, Stif announces this Friday, November 24, the approval of its registration document by the Financial Markets Authority, the first step towards an introduction on Euronext Growth Paris.
Founded in 1984, the company has historically specialized in components for handling bulk products, namely buckets for elevators or fittings for pneumatic transport. Then at the beginning of the 2010s, Stif took a first strategic turn by developing a range of protection products against dust explosions in industrial environments, under the Vigilex brand.
Stif explains that accidents caused by dust affect all industries and more particularly the food industry and the wood industry. Forming in confined working environments, explosions cause sudden pressure combined with flames, typically resulting in damage to the surrounding space with risk of injury and death. Dust explosions also have a significant financial cost for companies, estimated at $1 million per explosion, according to an Ineris report, cited by Stif.
Anti-explosion panels
And since 2022, the group has diversified further, this time by offering a range of anti-explosion panels dedicated to battery energy storage systems (BESS). It is marketed under the Vigilex Energy brand. BESS is a technology that uses rechargeable batteries to store intermittent electricity produced by solar or wind farms and release it as needed. BESS plays a key role enabling the storage of electricity produced by renewable energies such as solar and wind, explains Stif.
The protective panel activity represented 30% of the turnover of 31.2 million euros achieved in 2022, and increased by 49% compared to 2021, adds Stif.
The company therefore intends to raise 15 million euros, according to Les Echos, to develop in the market for securing battery energy storage systems (BESS).
Financing market acceleration
Stif says it is starting “a new cycle of strong growth” with its new range of products dedicated to protection against explosions of BESS, for the storage of renewable energies. The company explains that it wants to capitalize on its expertise in the manufacturing of anti-explosion dust panels to establish itself sustainably in this related market for BESS exhibitions.
“The number of installations is expected to grow exponentially in the coming years, with capacities multiplied by 5 by 2030,” explains Stif, which says it has obtained several references from “leading” manufacturers, such as “Tesla or Samsung” also indicated its manager to Les Echos.
STIF will therefore accelerate internationally to develop its locations there with new hires and the opening of new sales offices in the United States, the Middle East and South Korea. Still internationally, the company plans to open a new factory in Texas (United States) as well as increase its production capacity in China.
And to maintain its technological lead over its competitors, STIF will develop new products and optimize those that are already marketed thanks to an “active” research and development policy.
The company says it anticipates “a strong acceleration” in its turnover in the coming years. By 2025, STIF is targeting a turnover of around 61 million euros, or average annual growth of 25% between 2022 (31.2 million euros) and 2025. By 2027, the group aims to increase its turnover to around 80 million euros with a gross operating surplus (Ebitda) greater than 15% of turnover.
If STIF completed its process, it would be the sixth IPO of a new company on Euronext Growth in 2023. The last operation dates back to July with the arrival of the ingredients specialist Vinpai natural products on the flagship compartment of small and medium-sized businesses, which housed all the introductions for the year 2023.
Sabrina Sadgui – ©2023 BFM Bourse