NCAB Group acquires Italian PCB supplier
NCAB Group announces that it has acquired 100% of the shares in Italian PCB supplier PreventPCB.
Based in Vergiate outside Milano in Italy, PreventPCB focuses on serving customers within the High Mix Low Volume segment, with a quality focus and its own lab. The company’s main market is its native Italy but it also serves customers in Switzerland. In 2019 the Italian company’s operations recorded a turnover of SEK 225 million (EUR 22.36 million) and an EBITA of a little over SEK 30 million (EUR 2.98 million). It operates its business with 22 employees, 12 located back home in Italy and the rest in China. NCAB acquired the operations for SEK 185 million (EUR 18.39 million), which corresponds to just above six times the company’s EBITA. However, a further earn out potential of SEK 25 million (EUR 2.48 million) may be added if certain sales targets are met in 2021. The combined net sales of PreventPCB and NCAB Italy will be approximately SEK 250 million (EUR 24.84 million) with a total of 21 employees in the country. Synergies are expected in the areas of purchasing power, payment terms and factory management. “The Italian PCB market is one of the largest in Europe and in a process of change. It is an important component of NCAB’s strategy to actively participate in the consolidation of the market. PreventPCB is a company NCAB has known for a long time and has an impressive reputation for their quality and service. With this acquisition, our combined entity will make NCAB a leading supplier of PCB’s into the Italian and Swiss PCB markets and will create a strong player delivering high quality, high reliability and market leading customer service,” says Peter Kruk, CEO of NCAB Group. “PreventPCB will be integrated with NCAB Italy which is part of NCAB’s European segment, and the Prevent China team will be incorporated into NCAB’s extensive factory management team in China.” “We are happy to be joining forces with NCAB Group. This is very positive both for our customers and employees. PreventPCB is a customer oriented organization with a strong focus on quality, reliability and service. Joining with NCAB will give our customers access to the best technology and their extensive factory base in China, Taiwan and Europe, as well as increased resources and competence worldwide. As the PCB supply market continues to develop this is an excellent time to take this step and grow together,” adds Flavio Vergani, former owner and Chairman of PreventPCB. “The future value will benefit from the collaboration with PreventLAB, a laboratory of technological excellence and digital innovation, which provides services increasing the reliability of our customers' products.”