NCAB acquires Belgian PCB supplier
NCAB Group says that it has acquired 100 per cent of the shares in Cumatrix BV, based in Lommel, Belgium. A country where NCAB has not had a local presence until now.
Cumatrix BV’s net sales amounted to SEK 7 million (EUR 608,000) in 2023 with an EBITA margin of about 7%. The company has 2 employees. While the acquisition might be small, it is viewed as strategically important.
“This acquisition is small but all the same it presents a strategic opportunity for NCAB Group to establish a local presence in the Belgian market. With this action, we also gain highly skilled and experienced personnel from the PCB industry, who will complement our existing capabilities and play a pivotal role in unlocking new growth opportunities and expanding our network in Benelux," says Benjamin Klingenberg, VP NCAB Europe in a press release.
The majority of Cumatrix's sales is concentrated to the industrial sector and sourcing is being made from partners in China. NCAB says that it expects the acquisition to be earnings accretive in 2024 and that synergies are expected in the areas of suppliers, payment terms and logistics.
“We are happy to be able to enhance our business in the NCAB context. This will mean a positive development for our customers, us personally and not the least give us new possibilities to grow in Belgium with the support of the entire NCAB Group,” says Gert Peeters, owner of Cumatrix BV.
