Icape expands its footprint with three acquisitions in the US
The French PCB supplier says that it has acquired the operating assets of the US companies PCB Solutions, Ustek Incorporated and Nujay Technologies Inc.
The three companies are all specialised in PCB traders in the United States. PCB Solutions and Ustek Incorporated also trade in technical parts, representing 10% of its business and for the latter almost 30%. In total, the three companies hold a portfolio of over 180 North American customers, from a variety of industries, ranging from medical equipment design to the automotive sector.
In 2022, these three companies generated a cumulative net revenue of over USD 5 million and an EBITDA margin of over 10%. The proportion of customers shared with the Icape Group is very low, standing below 10%.
Icape is now significantly strengthening its footprint through these acquisitions. The different locations of these new structures (in Ohio, California and Utah) also enable the Group to cover the entire US territory.
"Since the launch of our external growth strategy in 2021, all acquisitions made by ICAPE Group have been focused on the European continent. By acquiring the assets of PCB Solutions, Nujay Technologies Inc. and Ustek Incorporated, we are proud to significantly strengthen the international footprint of our solutions dedicated to printed circuit boards and technical parts, as well as the value creation potential of our North American subsidiaries," says Yann Duigou, CEO of Icape Group, in a press release.