(Boursier.com) — The ICAPE Group, a global technology distributor of printed circuit boards, announces the acquisition of the operational assets of the American companies PCB Solutions, Ustek Incorporated and Nujay Technologies Inc.
The three companies whose assets are acquired by the ICAPE Group have specialized in the trading of printed circuits in the United States for more than twenty years. PCB Solutions and Ustek Incorporated also have a technical parts trading activity, representing for the first 10% of its activity and for the second almost 30% of it.
In total, the three companies cover the needs of a portfolio of more than 180 North American customers, from a wide variety of industries, ranging from medical equipment design to the automotive sector. In 2022, these three companies generated cumulative annual net revenue of more than $5 million as well as an EBITDA margin greater than 10%. The weight of customers in common with the ICAPE Group is also very low and amounts to less than 10%.
Established in the United States via its subsidiary ICAPE USA for the distribution of PCBs and its subsidiary CIPEM USA for services related to technical parts, the ICAPE Group is significantly strengthening its presence in this major market by acquiring a solid base of industrial customers as well as new distribution channels, particularly local. The different locations of these new structures (in Ohio, California and Utah) also make it possible to cover the entire American territory.
Like the acquisitions previously made, and in line with the external growth strategy of the ICAPE Group, these assets present strong potential in terms of purchasing and commercial synergies with the Group’s local subsidiaries and benefit from a level of high profitability.
Yann Duigou, Managing Director of the ICAPE Group, declared: “Since the launch of our external growth strategy in 2021, all acquisitions made by the ICAPE Group were focused on the European continent. With the acquisition of the assets of PCB Solutions, Nujay Technologies Inc. and Ustek Incorporated, we are proud to greatly strengthen the internationalization of our solutions dedicated to printed circuits and technical parts as well as the value creation potential of our North American subsidiaries. The assets we are integrating today hui bring us a substantial portfolio, made up of more than 180 North American clients from a wide variety of industries as well as their dedicated distribution channels, in the United States and Asia. By joining the ICAPE Group, these assets will be able to benefit from numerous synergies as well as the expertise of our subsidiaries to deliver the highest possible quality of services to their local customers, which should ensure significant profitable post-integration growth in the short and medium term.”
These asset acquisitions are financed 100% in cash and their integration into the Group’s accounts will be carried out from October 1, 2023. PCB’s trading activities should eventually integrate the subsidiary ICAPE USA and the activities dedicated to the distribution of technical parts from the CIPEM USA entity.
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