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ALLGEIER SE / Key word(s): IPO
31-Jan-2019 / 17:28 CET/CEST
Munich, January 31, 2019 – The Management Board of Allgeier SE (ISIN DE000A2GS633, WKN A2GS63) has decided today that the subsidiary Allgeier Experts SE shall receive an independent stock exchange listing in the current year. Talks with investment banks are now leading to concrete preparations for an IPO, which is to take place in the second half of 2019, depending on the market situation.
With this strategic step, the Allgeier Group will be split into two independent companies with a perspective on the years ahead. Allgeier Experts SE bundles the personnel services business of the Allgeier Group, which specialises in IT and engineering. With a turnover of more than 300 million euros planned for 2019, Allgeier Experts SE is one of the leading full-service IT personnel service providers in the German market. In the medium term, significant growth is planned both organically and through acquisitions in a market that is continuing to consolidate. By taking the step into an independent stock exchange listing, Allgeier Experts SE will reduce its dependence on its parent company Allgeier SE and gain direct access to financing.
The software business remaining in Allgeier SE is planning sales of more than EUR 500 million for 2019. In addition to substantial organic growth, further acquisitions are planned in order to accelerate the expansion into a globally active software development company. Allgeier SE already brings together more than 7,000 software specialists in more than 25 countries – more than 4,000 of them in India, over 1,000 in Germany, around 800 in Romania and around 500 at its locations in China.
With significantly tightened profiles and individual equity stories, both companies will drive their expansion even more consistently than before. Direct access to the capital market as well as to debt financing, each with its own peer group and valuation environment, will enable both companies to accelerate their growth. The sharpened specific profile in each case will create greater visibility and attractiveness both in the customer environment and, in particular, when recruiting new colleagues and key employees. The future cooperation between the two largely complementary companies is to be continued intensively and at eye level. Allgeier SE is expected to remain the anchor shareholder of Allgeier Experts SE in the medium term following its IPO.
Allgeier SE is one of the leading IT companies for digital transformation. With a growth strategy focused on innovations and future trends and an integrative entrepreneurial model, Allgeier is seizing the opportunities of digitalization. Four segments with individual technical and industry-related focal points work together for around 3,000 customers from almost all industries. With over 9,000 employees and more than 1,300 freelance experts, Allgeier offers its customers a comprehensive portfolio of solutions and services as a one-stop shop. Allgeier uses a highly flexible delivery model to map the complete IT service spectrum from onsite to nearshore to offshore: With strong footprints in India and China, flexibility and maximum scalability of services as well as highly qualified expert knowledge in high-end software development are ensured. Allgeier’s customers include global corporations as well as innovative medium-sized companies that want to seize strategic advantages through high-performance IT solutions, intelligent software and flexible personnel services. The fast-growing group, headquartered in Munich, has 140 branches in the DACH region, eleven other European countries and in India, China, Thailand, Singapore, Vietnam, Malaysia, Japan, the United Arab Emirates, South Africa, Australia, Mexico, Canada and the USA. In the 2017 fiscal year, Allgeier generated consolidated sales of 574 million euros from continuing operations. According to Lünendonk(R) List 2018, Allgeier SE is one of the ten leading IT consulting and system integration companies in Germany. According to Lünendonk(R) Market Segment Study 2018 “The Market for Recruiting, Placement and Management of IT Freelancers in Germany”, Allgeier Experts SE is among the TOP 3 IT personnel service providers in Germany. Allgeier SE is listed in the General Standard of the Regulated Market of the Frankfurt Stock Exchange (WKN A2GS63, ISIN DE000A2GS633). Further information is available at: www.allgeier.com.