Alimak prepares to go public

Swedish access company Alimak has announced its intention to launch an Initial Public Offering (IPO) and list on Nasdaq Stockholm.

The company, which is described as a global market leader in industrial rack-and-pinion vertical access solutions, expects the listing to take place before the end of 2015.

CEO Tormod Gunleiksrud said: “Through our 67-year history we have successfully established Alimak as a widely recognised and preferred brand with a unique insight into our customers’ needs which has in turn awarded us a strong global market position.

“Alimak’s international sales and manufacturing platform in both emerging and mature markets provides us with a key competitive advantage.

“We are seeing significant opportunities ahead in capturing strong growth in the mid-market segment, driving penetration of aftersales services in our installed base and continuing to innovate our product portfolio.

“The IPO will provide us with better access to the capital markets and facilitate our growth strategy through increased brand awareness.”

Chairman Anders Thelin added: “I believe that Alimak is excellently positioned to expand its leading position to new markets and application areas.

“Alimak has a proven track record of profitable growth, and the Company’s unique manufacturing set up as well as clear strategic focus will be the key to capturing growth going forward.”

The company’s accounts for the year ending 31 December 2014 showed total revenues of SEK1.74 billion (€184 million), a rise of almost €24 million on the previous year.

Close to two-thirds of that revenue came from industrial equipment and aftersales, with construction equipment and rental accounting for 19% and 16% respectively.

The company has operations in more than 50 countries and employs more than 20,000 people. The rental business, which supplies construction hoists and platforms, serves France, Germany, Benelux and Australia.