Principal Mineral acquires Isola, raises $280M for next growth phase
Principal Mineral has acquired Isola Group, a century-old manufacturer of copper-clad laminates and dielectric prepregs, and raised approximately USD 280 million to fund its next phase of growth. The deal closed on June 16, 2026.
The logic behind the acquisition is straightforward: Isola makes the laminates, Principal Mineral already owns Camden Copper – North America's only producer of electrodeposited copper foil, relaunched by Principal Mineral in 2025 after the company stepped in to save the facility. "The combined offering enhances manufacturing capabilities and supply-chain resilience for critical industries while bringing together two foundational materials used in advanced PCBs: copper foil and copper-clad laminates," Principal Mineral states in its press release.
In a separate statement, Isola told customers and suppliers that nothing changes in day-to-day operations. The company's manufacturing, sales, technical and customer service teams continue as before, spanning facilities in Asia, Europe and the US that serve aerospace, defence, communications, automotive, industrial and medical customers.
The USD 280 million funding round was co-led by Overmatch Ventures and The New Industrial Corporation, with additional backing from J2 Ventures and Ensemble VC, plus a credit facility from Lane42 Investment Partners. The money is earmarked for integration, manufacturing capacity expansion and continued investment across North America, Europe and Asia, the press release continues.
"The addition of Isola advances our mission to build resilient supply chains that power the world's most important technologies," said Adam Johnson, CEO and co-founder of Principal Mineral. "Isola strengthens the manufacturing capabilities that underpin advanced electronics, helping reduce supply-chain vulnerabilities while ensuring customers have reliable access to the materials needed for aerospace, communications and satellites, AI infrastructure, and energy applications."
Following the acquisition, Principal Mineral will employ approximately 1,300 people across ten facilities worldwide. Johnson will lead the combined company as CEO, while Sean Mirshafiei, President of Isola, will run day-to-day operations at Isola, reporting to Johnson. Isola's outgoing CEO, Travis Kelly, will move into an advisory role.
"I'm very proud of what we have accomplished, and as a result, we are in a position of strength to begin this next chapter with Principal Mineral," said Kelly.
Principal Mineral describes itself as focused on rebuilding the "missing midstream" of the critical materials supply chain – the layer between upstream metals and finished technologies for electronics, defence and energy applications.