Image processing technology supplier Stemmer Imaging, which was converted into an AG with effect from November 28, 2017, plans to place new and existing ordinary shares in the Scale segment of the Frankfurt Stock Exchange as part of an IPO. The listing is expected to take place in the first half of 2018.

The issue proceeds will be used to finance the further organic and inorganic growth of Stemmer Imaging and the further development of the service portfolio, particularly in the direction of new fields of application for the company's own image processing software and with regard to the growing challenges of the digital world (e.g. embedded vision, hyperspectral imaging). Stemmer Imaging is also planning future acquisitions in both industrial image processing and non-industrial application areas that use technologies complementary to image processing, such as the entertainment, transportation and food industries.

Stemmer Imaging, headquartered in Puchheim near Munich, generated sales of EUR 88.3 million in the 2017 financial year (July 1, 2016 to June 30, 2017) with over 260 employees in 19 European countries. Since the 2013 financial year, turnover has risen from EUR 57 million at the time to this figure, which corresponds to an average annual growth rate of 12% (CAGR). EBITDA (adjusted for one-off special effects) grew from EUR 4.4 million to EUR 7.6 million in the same period, an average annual growth rate of 15% (CAGR).

SI Holding GmbH in Munich, a company belonging to the Primepulse Group investment company, which also includes the companies AL-KO Kober, Cancom and Steca Elektronik, currently holds 100% of the shares in Stemmer Imaging AG. AL-KO Kober had acquired 75.04% of the shares in Stemmer Imaging from company founder Wilhelm Stemmer at the end of the 2016/17 financial year. As part of this transaction, the Stemmer Imaging management team initially acquired a total of 24.96% of the company.

SI Holding will continue to hold at least 51% of the company's shares after the IPO capital increase and the placement of existing shares as well as in the event that the over-allotment option is exercised. It will undertake not to sell any shares for a period of six months after the listing and for a further six months only with the consent of the issuing bank.

In connection with the IPO, the company expects proceeds from the placement of new shares of around EUR 50 million. Hauck & Aufhäuser Privatbankiers AG is acting as Sole Global Coordinator and Sole Bookrunner.