The packaging company Iflex wants to take a leap forward by going public. The company, based in Ullà (Baix Empordà), plans to begin listing on BME Growth in mid-September or early October.
Josep Maria Puig, who controls the business together with his brother Genís, comments that the family has decided to list 30% of the shares, so that 70% will remain in the hands of the Puigs.
With the IPO, the industrial company hopes to exceed the 16 million euro valuation and raise around three million. “We will invest the money in the purchase of machinery, the expansion of the production center and the installation of air conditioning for the workers”, says the general manager.
The company, born in 1986, is in full growth since three years ago it decided to buy new rotogravure machinery. From the beginning, Iflex has specialized in this printing technique and, following the financial crisis, began to use it for the flexible packaging of plastic, aluminum and paper. Among its clients are pharmaceutical, cosmetic and food groups (from the cheese, yoghurt, sausage or meat sector). Iflex sells mainly in Spain, while 20% is exported to countries in the Maghreb area, Belgium, the Netherlands and France.
Last year the company closed with a turnover of 12 million euros and this year it is on track to reach 15, according to forecasts of the general manager, who adds that the company is profitable. “Last year we earned 800,000 euros and obtained a gross profit (ebitda) of 12%”, he says. Regarding the workforce, the entrepreneur indicates that the team exceeds 100 workers and that the number will increase as the business prospers. Currently, the company is run by the Puig brothers, although the second generation has already assumed positions of responsibility.
Puig believes that the key to the business is experience and family treatment, but above all the integration of the entire printing process. “There are very few companies in Spain that have rotogravure machinery, since over the years the simpler process offered by flexography has been gaining ground. We continue with rotogravure because we think it is more versatile and has better quality”, he says.
Apart from this business, Josep Maria Puig is also the owner of the company Aquamarina Costa Brava, which expects to generate a million euros in sales from the treatment and packaging of sea water for therapeutic and food use.
