ICAPE Group Strengthens Its International Footprint With Three Acquisitions in the United States
03 10월 2023 - 12:45AM
Business Wire
Regulatory News:
ICAPE Group (ISIN code: FR001400A3Q3 - Ticker: ALICA), a global
technology distributor of printed circuit boards ("PCB"), today
announced the acquisition of the operating assets of the US
companies PCB Solutions, Ustek Incorporated and Nujay Technologies
Inc.
The three companies whose assets are acquired by ICAPE Group are
specialized in PCB trading in the United States for over twenty
years. PCB Solutions and Ustek Incorporated also trade in technical
parts, representing for the first one 10% of its business and for
the latter almost 30%. In total, the three companies gather a
portfolio of over 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 a
cumulative net revenue of over $5 million and an EBITDA margin of
over 10%. The proportion of customers shared with ICAPE Group is
very low, standing below 10%.
Established in the United-States through its subsidiary ICAPE
USA for PCB distribution, and its subsidiary CIPEM USA for its
activity related to technical parts, ICAPE Group significantly
strengthens its footprint on this major market by gathering a
strong pool of industrial customers, as well as new distribution
channels, especially local ones. The different locations of these
new structures (in Ohio, California and Utah) also enable the Group
to cover the entire US territory. As with previous acquisitions,
and in line with ICAPE Group's external growth strategy, these
assets offer strong potential in terms of purchasing and commercial
synergies with the Group's local subsidiaries and are highly
profitable.
Yann DUIGOU, CEO of ICAPE Group, stated: "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. The assets we
integrate today brought us a substantial portfolio of over 180
North American customers from a wide variety of industries, as well
as their dedicated distribution channels, both in the United States
and in Asia. By joining ICAPE Group, these assets will be able to
benefit from numerous synergies as well as from the expertise of
our subsidiaries to deliver the highest possible quality of service
to their local customers, which should ensure us significant
post-integration profitable growth in the short to medium term."
These asset acquisitions are financed 100% in cash and will be
integrated into the Group's accounts from October 1, 2023. The PCB
trading activities will be integrated into ICAPE USA subsidiary,
and the activities dedicated to the distribution of technical parts
into the CIPEM USA entity.
About ICAPE Group
Founded in 1999, ICAPE Group acts as a key technological expert
in the PCB supply chain. With a global network of 36 subsidiaries
and a major presence in China, where most of the world’s PCB
production is done, the Group is a one-stop-shop provider for the
products and services which are essentials for customers. As of
December 31, 2022, ICAPE Group recorded a consolidated revenue of
nearly €220 million.
For more information: icape-group.com
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version on businesswire.com: https://www.businesswire.com/news/home/20231002213967/en/
ICAPE Group CFO Arnaud Le Coguic Tel: +33 1 58 18
39 10 investor@icape.fr
Investor Relations NewCap Nicolas Fossiez
Louis-Victor Delouvrier Tel: +33 1 44 71 94 98 icape@newcap.eu
Media relations NewCap Arthur Rouillé Antoine
Pacquier Tel: +33 01 44 71 94 94 icape@newcap.eu
Icape (EU:ALICA)
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Icape (EU:ALICA)
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