fimo company profile

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COMPANY PROFILE MAY 2021

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Page 1: FIMO company profile

COMPANY PROFILE

MAY 2021

Page 2: FIMO company profile

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.

Page 3: FIMO company profile

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

Page 4: FIMO company profile

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

Page 5: FIMO company profile

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.

Page 6: FIMO company profile

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

Page 7: FIMO company profile

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

Page 8: FIMO company profile

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

Page 9: FIMO company profile

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

Page 10: FIMO company profile

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