Aero Sekur, a world leader in products in special fabrics and rubber for the world of defense, space, and avionics, launches its first Mini-Bond for a total value of 5.000.000 euros.
It will be a financial instrument with a duration of three years and a yield of 5,75%. The placement period will run from 25 July to 25 August, while the issue and settlement date will be 26 August 2016. Banca Promos Spa is the advisor and arranger of the transaction.
The operation of Aero Sekur will help to finance the three-year investment plan launched by the group, for an amount of 4 million 350 thousand euro in the period 2016-2018. In particular, research and development programs will be implemented for:
- entry into new markets for helicopter safety systems, primarily Russia;
- improvement of ballistic protection products;
- development of new products for NBCR protection.
The following are also provided:
- measures to increase production capacity and adapt and upgrade production lines;
- Preparation and qualification of the maintenance site in Pensacola (USA), intended to support the F35-JSF order and to provide logistical and maintenance support to third parties.
In addition to issuing the minibond, the plan will be financed with the cash flow generated by the management.
The management data obtained from the 2015 statutory financial statements show revenues of € 36,6 million, with an increase of 12% compared to the previous year. In addition to the 18,5 million turnover in the Aeronautics sector, 15 million in the Defense sector and 3,1 million in the Space sector are added. In fact, EBITDA in 2015 was 3,4 million, equal to approximately 9% of revenues.
Thanks to a research and development plan, which in the last 5 years has resulted in over 12 million investments, the company has been able to consolidate its presence in the international market and become part of some of the most important programs for aerospace and defense, financed by national and international institutions, in collaboration with the main players in the sector.
The excellence of the results was endorsed by MIUR which during a conference defined Aero Sekur "a virtuous example", the only Aerospace SME to have won three international calls in the first year of Horizon 2020, the framework program of European Commission which finances research and innovation projects until 2020.
"Our group is constantly growing. The business plan forecasts an increase in sales of around 8% over the three-year period, due to the increase in delivery volumes expected in the defense and airborne sectors, "says the CEO of Aero Sekur, Marco Borghesi. "The use of the capital market will allow us to accelerate the expansion and consolidation of our expansion programs".
“With Aero Sekur our partnership continues in support of companies opening up to the financial markets”, declares Ugo Malasomma, Chairman of Banca Promos. "Our support aims to be of perspective, accompanying SMEs along an evolutionary and growth path that leads them to be recognized in the capital market, where we have been working for over 35 years, up to the listing on the Italian Stock Exchange or in other financial markets , depending on the type of company. With this in mind, we pay particular attention to SMEs active in the South. On the demand side, we turn to investors interested in products issued by performing companies, which combine the search for good returns with sensitivity to support the national productive economic fabric which, as we know, is based precisely on the vitality of our SMEs ".
The presence in Italy
Aero Sekur, established in 1968, has its headquarters in Aprilia (Latina). Since 2001, the current president, Silvio Rossignoli, has given impetus to a profound process of innovation and diversification of the company, combining its historic product, the parachute, with the most sophisticated products and services dedicated to the world of defense, space and avionics, aimed at ensuring the survival of the defense and security forces, supporting the operations of helicopters, air and ground vehicles, both civil and military. Products and services based on cutting-edge software and technologies and innovative materials in special fabrics and rubber.
The company has about 230 employees, including 36 engineers, including Aprilia, Caselle Torinese, Arenzano (Genoa) and San Pietro Infine (Caserta).
The latest initiatives were launched after the award of the important order for the construction of the Shelters, “inflatable hangars” for the F-35 fighter-bomber, banned by Northrop Grumman in the 2011: a structure that covers the aircraft for maintenance “in campo ”, accompanied by air conditioners that allow you to work in the most diverse climates, from the desert to the arctic areas.
Lifesaving applications
The commitment to research has led to new applications in aerospace and defense. From inflatable floats for helicopters - giant airbags - in the event of ditching, including rafts for the crew, to flexible tanks for armored vehicles and helicopters. If the tank is hit by a bullet, the hole closes in a few moments, to avoid the exit of the fuel that would cause a fire. A Mangusta helicopter of the Italian armed forces was hit in Afghanistan: the tank closed again, the aircraft was able to continue the flight, the crew was saved.
"Everything we produce has to do with textiles and air. Four floats keep an 7 ton helicopter afloat," explains President Silvio Rossignoli.
Aero Sekur in the world
Aero Sekur is present worldwide with Aero Sekur Ltd in England and Aero Sekur Inc. in the United States. To support the F35-JSF order and provide logistical and maintenance support to third parties, a maintenance site will be set up and qualified in the USA.
