Technogym organizes the IPO in Piazza Affari. The manufacturer of sports and leisure time equipment founded in 1983 in Cesena by Nerio Alessandri has chosen Mediobanca, JP Morgan e Goldman Sachs as global coordinator to accompany it in the listing process on the Milan Stock Exchange, scheduled for the end of the year. The role of advisor to the Alessandri family in the process would be played by the banker Claudius Costamagna.
The company would aim at a valuation equal to at least 10 times the Ebitda, i.e. a figure slightly lower than 700 million euro. Technogym closed 2014 with a 13% increase in turnover, to 466 million, and an Ebitda increase of 77% to 64,8 million. The net financial position stood at 57,2 million euro, an improvement compared to the 87 million of 2013.
Technogym is currently controlled by 60% by the brothers Nerio and Pierluigi Alessandri and 40% by the Arle Capital Partners fund. It is probable that the operation will materialize with an IPO, a public offer for sale and exchange. Two factors would push towards the listing project: the desire to grow further in foreign markets with the proceeds of the IPO and the decision of the private equity firm Arle Capital Partners to sell its stake.
Meanwhile, still on the IPO market, Bologna airport submitted an application for admission to Borsa Italiana for the listing of ordinary shares on the MTA, targeting the Star segment.
