Gestamp made headlines last month when the Spanish metal-parts supplier announced an initial public offering that would value it at about 3.7 billion euros. It's the culmination of a busy 20 years in which the family-controlled firm has increased revenue from 240 million euros in 1997 to 7.5 billion euros last year. About half of that was generated in Europe, but the company, which ranks No. 27 on the Automotive News Europe list of the world's top 100 suppliers, is on a global expansion push. Gestamp CEO Francisco Riberas expects the company to maintain its rapid growth as automakers outsource more metal stamping work to suppliers so they have extra cash to invest in megatrends such as connectivity and autonomous driving. Riberas covered that and more with Automotive News Europe Nick Gibbs.
What does going public do for you?
It's good for the product itself. It helps us attract and retain the best talent and we can give more guarantees and confidence to our customers.
Will the Riberas family keep a controlling share?
The family will retain more than 50 percent, [Japanese firm] Mitsui will have 12.5 percent. We are concluding a process started in 2016 when we bought back ArcelorMittal's stake in the company.
What will you do with the money?
We will use the proceeds to repay the loan to the family holding company Acek.
You've grown aggressively in the last few years. Can you carry on growing at the same speed?
Yes. We are still a young company and we are growing much faster than the market, on average by 21 percent annually. The rate of outsourcing for our segment used to be very low but in the last few years it has really increased. We are taking an important part of this increase.