Plant manufacturer Exyte concretizes plans for IPO
Frankfurt — The plant engineering company Exyte, which emerged from the Stuttgart-based M+W Group, is concretizing its plans for an IPO. Led by former Linde CEO Wolfgang Büchele, the cleanroom specialist is targeting an issue volume of around €1 billion, primarily for the semiconductor industry, according to financial circles. A stock market value of 3 billion euros is considered realistic.
Exyte, with 4,800 employees and expected sales of more than 3.5 billion euros, aims to expand and grow its position as the world leader in chip fab construction. However, the IPO proceeds will not go to Exyte, but exclusively to the owner Georg Stumpf (photo ). The Austrian billionaire had joined the M+W Group in 2009 and will continue to hold a majority stake in Exyte after the IPO.
The IPO is expected to be accompanied by Bank of America, Merrill Lynch and the Swiss UBS. The two investment banks will be supported by Commerzbank and the French Crédit Agricole.
Exyte develops equipment for high-tech factories and the semiconductor industry and had sales of 2.4 billion euros in the last fiscal year. Adjusted earnings before interest and taxes were 108 million euros.