The Munich company is named after a former subsidiary of the antenna manufacturer Kathrein. The major shareholders want to keep the majority even after the debut. One of the two had tried to go public in 2018, to no avail.
Dhe Bavarian electronics producer Katek is aiming to go public in the coming weeks and wants to use the money to finance its growth course. The Munich company wants to take 80 million euros from a capital increase, as it announced on Wednesday. The two major shareholders, Primepulse and Grosso Tec, who together hold 91 percent to date, do not want to sell any shares, but will retain the majority after the IPO. The issue in the strictly regulated Prime Standard, which is organized by the private bank Hauck & Aufhäuser, is expected to take place in the first half of the year.
The namesake and core of Katek is a former subsidiary of the Rosenheim antenna manufacturer Kathrein, which Primepulse took over three years ago. Thanks to numerous acquisitions, the company with 2,600 employees increased sales last year by 59 percent to 414 million euros. The short-term goal is half a billion euros; the next takeovers could add another 100 million euros. The adjusted operating result (Ebitda) was 20.8 million euros in 2020, said Katek. The operating return on sales (Ebitda margin) should double to ten percent in the medium term thanks to economies of scale.
The investment company Primepulse had tried to go public in 2018, but canceled the issue due to a lack of demand and the shaky markets. Behind the company are the founders of the Munich IT retailer Cancom. Primepulse manager Johannes Fues is also Katek’s CFO. The second major Katek shareholder, Grosso Tec, belongs, among other things, to the CEO of the Austrian S&T, Hannes Niederhauser.