Entrepreneur Energy: the Entech SME is satisfied with its IPO

Energy: the Entech SME is satisfied with its IPO

A “marathon”. Thus Laurent Meyer, who shares the management ofEntech with his partner Christopher franquet, qualifies the IPO of his company. But he does not regret the option chosen to strengthen the equity capital of the young Breton company. “To be listed on Euronext Growth, where we raised 25.3 million euros in September, gives us more credibility vis-à-vis our customers and our suppliers, ”says Laurent Meyer.

Specializing in smart storage solutions for renewable energies from photovoltaics and hydrogen-related technologies, Entech works primarily with clients such as EDF, Engie or Total. However, the latter want to be certain of its sustainability.

The suppliers, often Asian, of batteries or electrolysers of the SME located in Quimper in Finistère also feel “ reassured ”since Entech put part of its capital on the stock market. This introduction, continues the co-manager, “obliges us to have total transparency” and “very regular financial reporting”, which the company previously dispensed with.

Facilitate recruitments

Entech took the opportunity to better structure its organization. It changed status from SAS (simplified joint stock company) to that of SA (public limited company) with board of directors. The latter welcomed three independent personalities, including Dominique Druon, long-time Deputy Managing Director of Altran.

To hear the young company created in 2016, being listed also helps to facilitate recruitment. Entech currently employs 80 collaborators. 45 additional positions are open and “a dozen have already been filled,” says Laurent Meyer.

If the share price, 6.94 euros, has not changed since the introduction of the company last September, the manager does not complain because “many companies have unscrewed” after their entry. The leader believes that this stability is due to the strength of the figures announced. “We do what we say”, boasts Laurent Meyer who expects a turnover of 17 million euros in 2021-2022.

An IPO is expensive

The two partners say they are all the more satisfied with having chosen the Stock Exchange as they are “in the majority” and “free to make their strategic choices”, unlike, they think, what could have happened in the context of an opening of their capital to a financial fund.

The only downside is that an IPO is expensive. In terms of financial communication, organization of general meetings, legal obligations, Entech now plans annual fees “2 to 4 times higher” than those spent before its listing on Euronext Growth.

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