Network Corporate Finance advised Derby Cycle AG, Cloppenburg, on the preparation and implementation of the initial public offering in the official market (prime standard) of the Frankfurt Stock Exchange.
Transaction
KROMI Logistik AG, Hamburg, has placed 750,000 ordinary shares from a capital increase and 750,000 ordinary shares (including the greenshoe option) held by existing shareholders as part of a public offering, and has had its share capital of EUR 3.75 million admitted to official trading (Prime Standard) on the Frankfurt Stock Exchange.
The proceeds from the share placement will be used to finance further organic and external growth, to implement and fund new customer acquisition, and to provide interim financing for the tools until they are purchased by customers. The placement was managed by Berenberg Bank as sole lead manager and sole bookrunner.
Target Company
KROMI Logistik is listed in the Prime Standard segment of the German Stock Exchange, offering complete manufacturer-independent tool management (outsourcing the supply of precision tools) to national and international customers. This service focuses on technically demanding machining tools (wear and carrier tools such as drills) for metal and plastic machining. KROMI combines classical tool trading with decentralised tool management in the form of automatic dispensers in clients’ production areas and an IT-based tool management and controlling system.
Key Facts
| Transaction value: | EUR 75,0 Mio. |
| Sector: | Service |
| Sales: | EUR 29,8 Mio. (2006) |
| Employees: | 53 |
| Date: | March2007 |
The role of Network Corporate Finance
Network Corporate Finance advised the clients on the preparation and implementation of the initial public offering.
