Five acquisitions in one year – ICAPE is on the move
French PCB supplier ICAPE has been expanding throughout 2022. So much so that the company is no longer “just” a supplier, but also a manufacturer – in Europe – following its latest acquisition.
Following an expansion consisting of several acquisitions in 2021. The French PCB group started 2022 by acquiring the operations of CEBISA France. Through the acquisition, ICAPE gained access to CEBISA’s 50 customers spread throughout Europe. The acquired company achieved a turnover of EUR 2.8 million in 2021.
A few months passed and in April ICAPE continued its expansion – this time with the acquisition of German PCB supplier SAFA2000. Germany is an important country for ICAPE Group in terms of sales. In the later parts of 2021 and in early 2022 ICAPE invested heavily in the country; resulting in a brand-new facility, an advanced logistics centre and the acquisition of SAFA2000. In 2021, SAFA2000 achieved a EUR 15,5 million revenue, with 28 employees and 360 active customers.
Halfway through 2022 – or in late July more specifically – ICAPE announced that it was expanding its operations on its home market with a new logistics centre in France.
As sales volumes kept increasing the expansion was described as essential for the company as it needed to increase the logistics capacities at its head office of Fontenay-Aux-Roses. With the new logistics centre the company added 600 square metre of storage and working space.
At the end of August, all eyes turned to Denmark as it was time for another acquisition. With Møn Print, ICAPE added an experienced team in Denmark. The Danish company brings with them the experience of having been a production factory. Since 2014, the company focused on serving its 200 customers with a network of 13 factories.
Just a few weeks later it was time to continue the expansion, this time the French company travelled south as it acquired Portuguese PCB supplier LUSODABEL. The Portuguese company has been operating since 1996 and has a turnover of USD 6.2 million. LUSODABEL serves 50 customers and has based its business strategy on long-term relationships.
And as we move closer to the end of the year, ICAPE announced that it is acquiring 100% of the shares in Swedish MMAB Group, one of only two Swedish PCB manufacturers left in the country.
This latest acquisition of MMAB effectively makes ICAPE both a supplier and now also a manufacturer of PCBs as MMAB has its own manufacturing operation in Malmö. The company also 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.
When the acquisition of MMAB was first announced ICAPE Group’s CEO Cyril Calvignac said that the addition of the Swedish manufacturer confirms the external growth target set for 2022, namely the securing of €35 million of additional revenue.
With this acquisition, ICAPE Group adds to its increasing footprint in Northern Europe as a PCB distributor while pursuing our industrial policy with a new production factory based in Europe.