Published on Nov. 24, 2023 at 8:25 a.m.
Stif joins the Euronext Growth market. This group from Maine-et-Loire, specialist in industrial sheet metal, relies on this Initial Public Offering to support its development in the market for protection against explosions of systems energy storage by batteries. A new niche for this family business of 190 employees, specializing since 1984 in the design and manufacture of components for handling bulk products.
Stif diversified in the early 2010s into the production of protection devices against industrial dust explosions. A sector which represents 30% of its 31 million euros in turnover. “On these products, we have identified strong development potential in the field of renewable energy storage, a sector presenting an explosive risk. The listing on Euronext Growth should make it possible to finance our growth in this new market, while giving us credibility among its players who are large international groups,” explains José Burgos, director of Stif.
The company develops ranges of explosion-proof panels, deflectors and other protections which equip the containers where the lithium batteries storing surplus renewable energy production are grouped.
Increase in production capacity
Already carrying out 75% of its export activity in 80 countries, Stif is targeting the American and Chinese markets with this new activity. To achieve this, the group will increase its production capacities next year. Thus, its Chinese factory benefits from an investment of one million euros to double its industrial capacity and its workforce of 25 employees.
Stif will also open a factory in Texas with 20 people. A rental site in which Angevin is injecting 2 to 3 million into production equipment, with the ambition of reaching 50 employees within three years. Finally, it plans to create a joint-venture factory in South Korea, also dedicated to all of its explosion protection ranges.
“Stif will carry out 90% of its activity internationally thanks to the security of energy storage systems. From next year, this market will be our primary source of income,” says José Burgos. The group therefore intends to double its turnover in 2025 to reach 80 million euros by 2027.