Building technology company Poenina prepares IPO
The building technology company Poenina Holding AG (Opfikon) intends to list its shares on the SIX Swiss Exchange in Zurich and grow through acquisitions in the future.
As a service provider in the fields of building technology and building envelopes, Poenina generated operating income of CHF 114.4 million and EBIT of 7.8 million in the 2016 financial year. The planned IPO is intended to broaden the shareholder base by placing new and existing shares and to raise funds for further acquisitions, the company writes in a media release.
The Poenina Group, headquartered in Glattpark in Opfikon, consists of nine companies and is present at ten locations in German-speaking Switzerland with currently around 450 employees. Since its founding by Valais-based entrepreneur Jean Claude Bregy in 2010, Poenina has grown through several acquisitions and plans to make "further acquisitions of solid, traditional companies" in the future, mainly in the building technology sector, according to the company. "We intend to acquire more companies with strong local roots and increase our market share in a fragmented market," says founder, board member and CEO Bregy.
Poenina is a provider of services in the business areas of sanitary engineering, heating engineering and ventilation engineering (building services) as well as roofing and plumbing (building envelope) for public buildings as well as for residential, commercial and hotel buildings in German-speaking Switzerland. The group includes, among others, the companies Sada, Demuth, Banz and Hans Ziegler. The planned IPO is accompanied by Zürcher Kantonalbank as Sole Lead Manager.
