ICAPE acquires German pcb supplier
EP&T MagazineElectronics Production / Materials materials pcb pcba pcbs production
ICAPE Group, a global technology distributor of printed circuit boards (pcb), has acquired 100% of the capital of PRINCITEC, a high value-added supplier of pcb.
Since 2004, PRINCITEC, located near Düsseldorf, has been providing the full range of technical, sourcing and quality services associated with the distribution of printed circuit boards. Backed by a network of 11 distributors in Asia and Europe, the company benefits from the commercial capacity to meet the needs of a wide variety of industries within very tight deadlines, thanks in particular to its wide range of products. With a base of 35 active customers, mainly located in Germany, PRINCITEC generated revenue of €6.5 million in 2022, with a gross margin of around 25.5%.
With this operation, ICAPE Group is unlocking a significant synergy potential while continuing to diversify its sourcing, thus reinforcing its unique logistical capacity to deliver on time, everywhere in the world and at the best cost. Following the acquisition of HLT announced at the end of May 2023, this new signature also strengthens ICAPE Group’s positioning on the German market, Europe’s leading printed circuit board market.
“We pursue the acceleration of our external growth strategy, focusing on supply and commercial synergies and cost optimization. PRINCITEC presents all the necessary assets to generate incremental organic growth following its integration into our Group,” said Yann DUIGOU, CEO of ICAPE Group. “In addition, its seasoned team, solid supplier network and customer portfolio spanning a wide variety of industries will strengthen our position in Germany, one of the world’s leading markets. Our pipeline of potential acquisitions remains very strong, and we are in advanced discussions with targets covering all geographies, enabling us to reiterate our target of €30 million in additional revenue this year.”