NCAB acquires Elmatica in Norway
PCB supplier NCAB announces that it has acquired 100% of the shares in the Norwegian company Elmatica AS, one of the oldest PCB trading companies in the world with a history dating back to 1971.
The company is headquartered in Oslo and has subsidiaries in Sweden, Denmark, Germany, Hong Kong and China with a total of 45 employees. Customers are located all over Europe and Elmatica is expected to have Net sales of approximately SEK 370 million (EUR 36.86 million) in 2021, with an EBITA result of approximately SEK 45 million (EUR 4.48 million). NCAB will pay SEK 315 million (EUR 31.38 million) to get their hands on Elmatica, and there will be a possible added earn-out price based on the results in 2021. “We are very pleased to have acquired Elmatica,” says Peter Kruk, President and CEO of NCAB in the press release. It is one of the larger companies in our field and operates just like NCAB in the HMLV segment (High Mix Low Volume). Elmatica has a very good reputation in the marketplace for its great know-how and high quality. It will constitute a valuable addition to both our Nordic and Europe segments and will strengthen our purchasing power with the leading factories. We both have the same focus on high quality and our business models and cultures fit well together”. “In NCAB, we will get a strategic owner with a global customer base and together we can further broaden the product portfolio that we offer our customers. Both companies are based on similar Scandinavian values with a particular focus on high quality for advanced products and high customer satisfaction. The integration of our global manufacturing network, highly qualified colleagues and advanced IT systems will further secure the role of a global player in the PCB industry. I look forward to joining the NCAB Group to secure integration and to expand and ensure the supply chain for our customers who are leaders in their industries,” adds Didrik Bech, CEO of Elmatica.