RCF Group launches on Italian stock exchange amid reports of ambitious expansion plans7 August 2007
ITALY: Loudspeaker, amplifier and microphone manufacturer RCF Group was admitted to Italy’s stock exchange, the Borsa Italiana, last month. The development follows the announcement by ceo Arturo Vicari at the IPO presentation that acquisition is likely to form part of a long-term growth strategy that would see the group aim to become the industry’s third largest manufacturer of transducers and wholly-owned solutions behind Harman International and Telex, writes David Davies.
The RCF Group was established formally in 2004 and comprises RCF SpA and audio electronics specialist (and dB Technologies brand owner) AEB. It recorded a turnover of nearly _50m in 2006 – an increase of 26% over the previous year. Now, having joined the Mercato Expandi – part of one of the five market sectors that make up the Italian Stock Exchange – RCF Group is intending to expand its presence even further on the international stage.
“Through the quotation operation, the RCF Group intends to continue its growth in the international markets,” commented Arturo Vicari (pictured), managing director of RCF Group. “The synergies between the high-toned prestige of the brand, the know-how of an internal Research and Development team, as well as the abilities to catch the high-growth potentials of both professional audio and public address markets, represent the strong points of our strategic course.”
More specifically, the IPO presentation revealed that the RCF Group has now ring-fenced _40m for future acquisitions with the ultimate objective of becoming the world’s third largest pro-audio manufacturer of transducers and wholly-owned solutions behind Harman International and Telex.
In other recent news, another Italian pro audio manufacturer, B&C Speakers, has also been listed on the Borsa Italiana. Noting its intention to reinforce its profile in South America, China, south-east Asia and eastern Europe, the company stated: “Entering into the exchange is a very important step for the company, which reaffirms a path started 60 years ago and is aimed at strengthening [its] growth expectations and gaining a higher visibility on the referential market.”