(Boursier.com) — The ICAPE Group, a global technological distributor of printed circuit boards, announces the acquisition of 100% of the capital of the company PRINCITEC, a high value-added supplier of printed circuits.
Located near Düsseldorf, PRINCITEC has been providing all services related to the distribution of printed circuits since 2004, from a technical, sourcing and quality perspective. Benefiting from a network of 11 distributors in both Asia and Europe, the company benefits from significant marketing capacity to respond within very short deadlines to the needs of a wide diversity of industries, thanks in particular to its wide variety of products. . With a base of 35 active customers mainly located in Germany, PRINCITEC generated a turnover of 6.5 million euros in 2022 as well as a gross margin of around 25.5%.
With this operation, the ICAPE Group is activating significant potential for synergies while continuing to diversify its sourcing, thus strengthening its unique logistics capacity to deliver on time, anywhere in the world and at the best cost. After the acquisition of the company HLT announced at the end of May 2023, this new signature also strengthens the positioning of the ICAPE Group on the German market, the main printed circuit market in Europe.
Yann DUIGOU, Managing Director of the ICAPE Group, declared: “With the acquisition of PRINCITEC, we are continuing to accelerate our external growth strategy, focused on supply and marketing synergies as well as the optimization of our costs. PRINCITEC has all the necessary assets to generate incremental organic growth following its integration into our Group. Also, its experienced team, its solid network of suppliers and its customer portfolio composed of a wide variety of industries reinforce our base in the German market, one of the main markets globally. Our pipeline of potential acquisitions remains very strong, and we are in advanced discussions with targets covering all geographies, allowing us to reiterate our objective of 30 million euros in additional turnover this year.”
Bernhard TSCHAMPEL, Managing Director of PRINCITEC, adds: “The ICAPE Group, in addition to its position as a leading player in our market, carries a set of values in line with our DNA, focused on product quality and customer relationship. Thanks to this association, our customers will fully benefit from its purchasing power and its unique logistics platform, which will lead to a strengthening of the quality of service provided by our teams. We look forward to collaborating with the German subsidiary of the Group in order to deploy the potential for synergies between our two entities.”
Like the recent acquisition of the company HLT, this operation is carried out by the subsidiary ICAPE Deutschland GmbH and is financed 100% in cash. The PRINCITEC teams, made up of 9 employees, also strengthen the Group’s local subsidiary.