FONTENAY-AUX-ROSES, FRANCE – Icape Group is preparing its IPO. The printed circuit board distributor had revenue of €169 million (US$182.4 million) in 2021, up 34%. The company aims for revenue of €500 million by 2026.

Icape’s registration document has been approved by the Autorité des Marchés Financiers. Capital of is 100% owned by the founder, the managers and the employees of the group.

Icape consists of 27 subsidiaries. The company believes its global organization is structured and sized to absorb a new phase of significant growth.

“For more than 20 years, the Icape Group has been providing its customers with a turnkey service by acting as a single point of contact covering the entire printed circuit board distribution chain,” said Thierry Ballenghien, founder and president. “Essential components for the vast majority of manufacturing sectors of electronic products for daily use, more than half of the world's production of printed circuits today takes place in China, where the Icape Group very early on developed a leading presence. These solid and balanced partnerships we have created with Chinese suppliers are a key asset in the service of the large base of international customers built over the years, allowing us to offer a wide range of products and services, coupled with technical expertise. We have thus built a highly structured global organization, with a complete logistics platform, and based on our supply and sourcing office in China, a real pivot and centerpiece of the group located at the very heart of the main pole of the electronics industry.

“It is on these solid fundamentals, supported by expert management and a strongly committed employee shareholding, that the Icape group has been able to deliver strong, steady growth for more than 20 years and achieve a turnover of €169 million in 2021. Furthermore, the current pandemic has acted as an indicator of the need for customers to secure their supplies of printed circuit boards, accelerating our current momentum all the more. Today, we offer this IPO project to open a new chapter in the group's history, which will capitalize on the solidity of our model to post even greater profitable growth in the years to come.”

“In a context of market consolidation supported by very favorable global trends, this IPO project will allow the Icape group to strengthen its ambitious external growth dynamic,” said CEO Cyril Calvignac. “With a first track record for acquisitions in 2021 as a reference, we intend to seize new external growth opportunities already identified worldwide to increase our market leadership. At the same time, we will continue our historic strategy of strong organic growth and the optimization of our organization and synergies to improve our profitability. Our financial objectives include a distribution policy of around 30% of net income over the next few years.”

The IPO project remains subject to obtaining the AMF's approval of the prospectus relating to the offer and admission of Icape Holding shares on the Euronext growth market in Paris, as well as favorable market conditions.

Ed.: €1 = US$1.08

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