fimo company profile
TRANSCRIPT
COMPANY PROFILE
MAY 2021
2Strictly private & confidential
GROUP OVERVIEW
23International
patents
About 83%Export sales
€ 38 M Consolidated revenues
in FY20
+ 17.6%FY17- FY20 Revenues
CAGR
BUSINESS OVERVIEW
FY20 CONSOLIDATED
SALES
BREAKDOWN
PER
GEOGRAPHY
ACTIVITY
FOOTPRINT
€ 38M
PE Wise EquityMain shareholder
• Fimo Group is an Italian leading provider of components and systems applied in the telecominfrastructure business and it operates through 3 business units (b.u.):
o Components – design, industrialization and assembly of cost-efficient solutions for cable clamps,grounding kits and other components for mobile telecom infrastructure
o Concealing – design and production of high-end camouflage solutions for mobile telecominfrastructure
o Subsystems – design and production of interconnection passive subsystems for datacommunication (mobile, FTTx, vertical markets, IoT, FWA)
• The Group is active in the telecom business since the 90s through the Components b.u., representingthe core business. In the last 3 years it has strengthened the Concealing b.u. and entered into theSubsystems sector through two acquisitions respectively.
• The global telecom business is expected to experience an outstanding growth over the next years,both for the Ultra Broad Band project for fixed infrastructures and for 5G rollout throughout thecountries for the mobile ones. In addition, the development of IoT technologies and vertical marketswill boost even more this potential.
• Through its 3 business units, the Group is now well equipped and structured, also thanks to its highlyskilled and experienced management team, to grow consistently in the next years, exploiting theopportunities in this flourishing market.
• The Group employs about 100 people in its headquarter in Italy and its subsidiaries worldwide.
• The Group serves a fragmented customer-base, counting over 400 customers in more than 50countries worldwide. Customers can be traced back to four main categories: towercompanies/operators, technology vendors/OEMs, installers and distributors. Top 10 customers accountfor about 48% of total sales and include the main players in telecom industry.
• The Group leverages on a strong R&D department, delivering breakthrough and bespoke solutionsoften protected by patents, and its state-of-the-art supply chain, allowing to fulfil any customer needwith the market shortest lead time.
3Strictly private & confidential
BUSINESS UNIT
COMPONENTS CONCEALING SUBSYSTEMS
Widest product portfolio & shortest lead time on the market Top quality & customized design Tailormade design & technologies for the future
(5G, FTTx, IoT, FWA)
Product lines – cable clamps (traditional and combinedsolutions), weatherproofing kits, groundingkits, radiating cable clamps, wall entries,fastening devices & other accessories
Product lines – green camouflage, design camouflage,architectural camouflage, other products andservices, site maintenance
Product linesracks, boxes, cabinets,harnesses, connectors,mechanical structures
“Whatever you want, whenever you need” “We master the invisible”“Together to connect the
future”
Technology vendors/OEMs
Installers Distributors
Customers served Customers served
Operators/Tower companies
Installers
Customers served
Operators/Tower
companies
Installers
4Strictly private & confidential
HISTORY BY MILESTONE
1933
Fi.mo.tec. S.p.A. was
established and began its
history with the introduction
of wall plugs: new products
that would transform the
fasteners market.
1980s
The Company entered in the
telecom market, transferring
the experience gained in the
fasteners market.
Fimo introduced its first
product line dedicated to the
fastening of telecom cables.
1990s
The product catalogue for
the telecom sector was
further expanded allowing
Fimo to become one of the
reference partners for the
main operators in the
telecom sector.
Fimo Deutschland GmbH was
established and it was the
first foreign branch. It quickly
built its reputation, becoming
the reference point for Fimo
products in German-speaking
countries.
To meet the increasing
demand from the Asian
market, Fimo India Mfg.
Pvt. Ltd. was established,
as manufacturing and
distributing company to
serve the domestic market.
2004 2020
In order to improve the European
service, Fimo acquired EMC Systèmes
SAS (later renamed in Fimo France), as
well as the majority of its subsidiary
Kitting Telecom. Fimo France is
dedicated to the sale of all FIMO
products in French-speaking
countries, while Kitting Telecom is
focused on the camouflage activity
2008
Birth Expansion Growth and development
2000
Fimo USA Inc. was
established, in order
to locally manage the
distribution in USA,
Canada and Mexico.
In 1997 revenues
coming from foreign
countries exceeded
domestic ones. .
2011 2015
IGI acquires Fimo
Group.
2017
Kitting Telecom
acquired the French
company Polyform SA,
gaining its know-how
on composite materials
manufacturing.
2018
The Group acquired
DCE Sistem S.r.l. and
entered into the
Subsystems market.
Wise Equity acquires
Fimo Group
Consolidation
5Strictly private & confidential
GROUP ORGANIZATION
BUSINESS UNIT
Components
Concealing
Subsystems
COMPANY
Fimo Italy
Fimo France
Fimo Deutsch.
Fimo USA
Fimo India
Kitting Telecom
DCE Sistemi
R&DSUPPLY
CHAIN
PRODUC-TION
INVEN-TORY
SALESLOCAL
F&AGROUP
F&A, IT
P P P P P P P
P P P P P
P P P
P P P P
P P P P P P
P P P P P P
P P P P P P
RoEU RoW
P
P
P
P P P
P P P
P P P
P
P
P
P P
P
Very limited Launch
ACTIVITY AND COMMERCIAL FOOTPRINT
Headquarters Subsidiaries Local distributors
DOVE OPERIAMO DOVE VENDIAMO
• The Group has worldwide presence through its subsidiaries (in France, Germany, India and USA)and a well developed network of distributors, which allows the Group to serve more than 50countries offering a variety of solutions to the market players and continuously strengthening itsalready well-recognized brand.
• Fimo Group is organized per business units, with Fimo Italy, Fimo France, Fimo Germany, FimoUSA and Fimo India involved in the Components b.u., Kitting Telecom focused on the Concealingb.u. and DCE Sistemi on the Subsystems one.
• The strategy of the Group in the last years has been to widen its product portfolio, to becomemore and more an integrated supplier in the telecom infrastructure arena.
• The Group, using its diversified competences, is continuously developing innovative solutionsfor the development of future infrastructures. 5G development and roll-out, Ultra Broad Banddevelopment, IoT solutions will be combined together with ESG specifications to develop thefuture products and systems.
6Strictly private & confidential
BUSINESS UNIT COMPONENTS
5000+ SKUs 300+customers
Transit time< 10 days
600+ moulds
50+ countries
served
BUSINESS MODEL
MARKET/CUSTOMERS FIMO GROUP SUPPLIERS
Mkt/custneeds
MakeBuy
Industrialization
Receiving
Assembly & Packaging
Shipment
Production
Receiving
Technology vendors/OEMs
Installers Distributors
• The Components b.u. is involved in the design, industrialization and assembly of cost-efficientsolutions for cable clamps, grounding kits and other components for mobile telecominfrastructure. This b.u. offers the widest product portfolio and the shortest lead time in themarket.
• The Components b.u. has historically represented the core of the Group’s activity and offering.Indeed, Fimo is still continuing to develop this b.u., consolidating its presence in Europe andquickly growing in the USA thanks to the new products launched in 2019.
• The key factor allowing the growth and success of the Components b.u. has been the strongeffort of the R&D department. Starting from customers needs and market changes, the offeringhas been gradually enriched with cutting-edge new products and solutions, resulting in thewidest offer in the market. Indeed, the Group has obtained 14 patents and works with morethan 650 moulds in its inventory.
• The business model leverages on the externalization of some production phases to reliablesuppliers (located mostly in Italy, but also in France, USA, China and India), resulting in theshortest lead time available in the market. The product development is internally managed andtime by time adapted to customers requirements.
PRODUCT LINES
Cable clamps – traditional Weatherproofing Kits Grouding Kits Wall entriesCUSTOMERS SERVED
Radiating cableclamps
Fastening devices & accessories
No tools solutions
Low PIM
Plastic hardware
Make (85%)
Buy (15%)
New developments
Cable clamps –combined
FTTH
7Strictly private & confidential
BUSINESS UNIT CONCEALING
100+customers
Polyformacquisition in 2017
150+ sites completed in 2020
+61% CAGR from FY17 to FY20
MARKET/CUSTOMERS KITTING TELECOM SUPPLIERS
Mkt/custneeds
Production
Shipment
Production
Operators/Tower companies
Installers
• The Concealing b.u. is involved in the design and production of high-end customizedcamouflage solutions for mobile telecom infrastructures. It provides a wide set of camouflagesolutions both for greenfield and for rooftop sites (green, design, architectural), sitemaintenance and additional products and services.
• The offering is intended for operators/tower companies and installers. Through the designwith the customer, the Group is able to offer tailor-made solutions with top class quality, withthe possibility to enrich them with additional services.
• The acquisition and incorporation of Polyform in 2017 has allowed the Group to build up animpressive growth exploiting the integration of fibre glass technology know-how.
• This b.u. cooperates with the Subsystems one: the former supplies the external camouflage,the latter is focused on the ergonomic system integration.
PRODUCTS LINES
CUSTOMERS SERVED
MakeBuy
Project
Make
Buy
Shipment
Installation** with Kitting supervision
Pino15-35 m
Cipresso10-25 m
Palm tree12-30 m 12-35 m
Architectural camouflage
Camouflage «Design»
Small cell Rooftopintegration
F1 GP France screen support
New products
BUSINESS MODEL
Camouflage verde Other products
8Strictly private & confidential
BUSINESS UNIT SUBSYSTEMS
MARKET/CUSTOMERS FIMO GROUP/DCE
Mkt/custneeds
Test
ShipmentReceiving
• The Subsystems b.u. is involved in the design and production of interconnection passivesubsystems for data communication (mobile, FTTx, vertical markets, IoT, FWA). It providesracks, boxes, cabinets, harnesses, connectors and mechanical structure.
• The offering includes FO systems assembly, design and production, electromechanical assembly,low and high frequency cable wiring.
• The Subsystems b.u. has been settled with the acquisition of DCE Sistemi in October 2018. Thefull integration of this subsidiary is expected within the next two years, within which the b.u.will fully generate its potential.
• The Group’s management is implementing a precise plan for the expansion of this businessunit, in a sector promising interesting growth opportunities. In particular, the expansion of theb.u. will be based on the reinforcement of the salesforce, the development of the base in Italyand the export of the business model.
• The expansion strategy for the next years is to leverage on opportunities coming from themarket, such as the arrival of new players (like tower companies operators) and newtechnologies (like 5G and small cells), creating new needs.
Design*
* most of the times, co-design with customers
Validation
Pre-series
Production
CUSTOMERS SERVED
BUSINESS MODEL
PRODUCT LINES
• Structural sensors• Power mgmt/metering solutions• IoT integration• Small cells/DAS• Underground cabinets• FWA cabinets• FWA Micro-camouflage • FO/RF harnesses
100%Customization
50+customers
DCE acquisition in 2018
20+ projects in progress
Operators/Tower companies
Installers
9Strictly private & confidential
KEY ELEMENTS
• International presence, with a strong footprint in Europe and increasing market share in the USA
• Brilliant financial performance, outperforming the industry standards
• Solid balance sheet, asset-light business model implying strong cash generation
• Components custom-made product portfolio protected by multiple patents
• Concealing and Subsystems bespoke solutions based on specific customer needs
• Very wide customer base, including all major international players in the telecom industry
• Leadership position in a flourishing market through its well-recognized brand
• Strong brand awareness in the telecom business
• Skilled and experienced management team, with a diversified background
• Streamlined organization
• State-of-the-art supply chain, with the lowest lead time in the market, granting an unbeatable competitive advantage
• Proven growth trajectory over the last years and even higher potential opportunities for the future
Fimotec S.p.A.Via Milano 12120093 Cologno Monzese (MI)
DCE SistemiVia Campobello 34/A, Pomezia (RM)
Fimo France SARoute de Villepecle, Espace Green Park, Batiment B
91280, St-Pierre-du-Perray
Kitting Telecom SA6, Rue du gravier du bac, ZAC de la courtilliére77400, St-Thibault-des-Vignes
Fimo Germany GmbHOtto-Hahn-Strasse 11D85521 Hohenbrunn
Fimo USA478 Northdale RoadLawrenceville GA - 30046
Fimo IndiaH.No. 207 Gali No. 8, Block-FBadarpur South Delhi DL 110044
www.fimoworld.comwww.wisesgr.com