ICAPE acquires Swedish PCB manufacturer MMAB Group
French PCB supplier ICAPE Group is acquiring 100% of the shares in MMAB Group, one of only two Swedish PCB manufacturers left in the country.
"The acquisition of MMAB Group is structuring in more than one way for ICAPE Group. We consolidate our presence in Northern Europe, already strengthened last summer by the alliance with MON PRINT, while pursuing our industrial policy with a new production factory based in Europe. The acquisition of MMAB Group confirms the external growth target set for 2022, namely the securing of €35 million of additional revenue,” says Cyril Calvignac, ICAPE Group’s CEO, in a press release.
MMAB Group is a Swedish manufacturer – one of only two in the country – and distributor of PCB for small quantities and prototypes on an express delivery basis, with activities, mainly focused on Scandinavia. In addition to its Northern European operations, consisting of a production factory and headquarters, the group has two subsidiaries in Eastern Europe, one in Hungary and the other in the Czech Republic, as well as a sourcing and logistics facility in China.
With more than 200 active customers in the automotive, railway, defense and medical industries, MMAB Group, as of September 30th, 2022, achieved over the last twelve months a revenue of SEK 132 million (more than EUR 12 million) and an EBITDA of nearly SEK 20 million (more than EUR 1.8 million).
"We are very proud to join ICAPE Group, one of the world leaders in PCB distribution. Through this alliance, we enable our customers to benefit from a complete range of high value-added services, whether technical, logistical or dedicated to quality and supplier sourcing. In addition to our technical expertise and our specific network of suppliers, we bring to ICAPE Group a European production platform that will cover the demand of customers looking for local production," says Tobias Hjelm, MMAB Group’s CEO.
With this acquisition, ICAPE Group adds to its increasing footprint in Northern Europe as a PCB distributor while deploying the industrial strategy announced in October 2022. In this perspective, Christelle Bonnevie, Chief Industrial Officer, will ensure the integration of the MMAB Group’s factory within ICAPE Group, its industrial development and the optimization of its performance.
