Scanfil completes acquisition of ADCO Circuits
Finnish EMS provider Scanfil has finalised its acquisition of US-based ADCO Circuits, following regulatory approval in the United States.
The deal, which was first announced in June 2025, gives Scanfil an 80% stake in the Michigan-based contract manufacturer. The remaining 20% will continue to be held by ADCO President Marc Damman, according to a press release
The transaction values ADCO at an enterprise value of USD 24.7 million and was financed through Scanfil’s existing credit facilities.
According to Scanfil, the acquisition strengthens its footprint in the Americas and expands its position in the Aerospace and Defence sector, which accounted for 37% of ADCO’s 2024 revenue. For the twelve months ending 30 November 2025, ADCO reported USD 35.2 million in turnover and USD 4.0 million in EBIT, corresponding to an 11.3% EBIT margin.
The completion of the acquisition marks Scanfil’s continued push into North America.
