29thlisting of 2023 on Euronext Growth Milan
56th listing on Euronext in 2023
Total placement volume of the offering equal to €25 million
Milan – 14 November 2023 – Borsa Italiana, part of the Euronext Group, today congratulates Sbe-Varvit on its listing on Euronext Growth Milan.
The company, part of the Vescovini Group, operates in the production, distribution, and marketing of a wide range of fastening components including screws, bolts, nuts, cold and hot stamped products, fasteners, and highly engineered mechanical components. With headquarters in Reggio Emilia and several production facilities in Italy and one in Serbia, the Group operates as a full service provider serving more than 5,000 customers globally.
Sbe-Varvit represents the 29th listing on Borsa Italiana’s market dedicated to small and medium-sized companies and it is the 56th listing of the year on Euronext.
In the placement phase Sbe-Varvit raised €22.74 million, excluding the potential exercise of the over-allotment option. In the case of the full exercise of the over-allotment option, the total amount raised will be approximately €25 million.
Alessandro Vescovini, Chairman of Sbe-Varvit, said: “Sbe-Varvit’s listing on Euronext Growth Milan is a paramount milestone for our Group, an important step on a strategic path started some time ago. We are bringing to Borsa Italiana a healthy and solid company, recognised by the market for its reliability and ability to offer high-performance, essential products in a great number of applications. We are proud of the milestone we have reached, but also aware that this is a starting point for a new path of growth for our company, for the investors who have put their trust in us and for all the people in the Vescovini Group.”
Caption: Alessandro Vescovini, Chairman of Sbe-Varvit, rang the bell during the market open ceremony this morning to celebrate the listing of the company
Sbe-Varvit is one of the global leaders in the production, distribution and marketing of a wide and diversified range of fastening components including screws, bolts, nuts, cold and hot-pressed products, fasteners and mechanical components of high engineering content, which are of fundamental importance for many industrial sectors. Headquartered in Reggio Emilia and with seven production plants in Italy and one in Serbia, the Group operates as a full service provider serving over 5,000 customers at a global level, including all major original equipment manufacturers (OEMs) in the agricultural machinery, construction equipment, industrial machinery, commercial vehicles, personal mobility, wind power and infrastructure sectors, offering them a portfolio of 27,000 items, 14,000 of which are manufactured internally, and employing over 1,000 collaborators. Controlled by Vescovini Group S.p.A., Sbe-Varvit reported as of 30 June 2023 consolidated revenues of €220,244,000, with EBITDA of €58,108,000, 26% of revenues, and a net profit of €33,108,000, while as of 31 December 2022, consolidated revenues amounted to €392,449,000, with EBITDA of €108,808,000, representing a 28% margin on revenues, and a net profit of €54,585,000.