Reading time ( words)
NCAB Group, one of the world’s largest suppliers of PCBs, with headquarters in Sweden, has signed an agreement to acquire 100% of the shares of Altus PCB.
Altus PCB is based in Cresskill, New Jersey and had a revenue of US$4.8 million in 2018. The agreement was inked on November 14, 2019.
“We are very happy to join forces with Altus PCB,” says Martin Magnusson, president of NCAB Group USA. “NCAB Group USA and Altus PCB share a vision to provide PCBs with quality first in mind, and excellent service and engineering support to our customers. With our combined purchasing power we will have more leverage to continue to provide PCBs to all our customers at the lowest total cost.”
Zohar Shinar of Altus adds, “This is a great opportunity for all of us. Altus PCB is privately owned, and dominated by a customer-driven culture with a goal to deliver superior performance and value. Being selected by NCAB Group to be a part of their North American growth is a great compliment. Joining with NCAB will give us access to their purchasing power, 65-person factory management team in Asia and industry’s best PCB facilities. I am looking forward to working for NCAB Group USA to solidify the transition, continue to grow our business and tackle the most demanding PCB requirements in our industry.”
NCAB Group was represented by McDermott Will & Emery LLP and Altus PCB was represented by ZAG/Sullivan. For further information, please contact:
Anders Forsèn, CFO NCAB Group +46 (0)8 4030 0051
Martin Magnusson, President NCAB Group USA, +1 603 812 30 57
Gunilla Öhman, Head of Investor Relations, NCAB Group +46 (0)70 763 81 25
NCAB is a worldwide leading supplier of printed circuit boards, listed on NASDAQ Stockholm. NCAB is offering PCBs for demanding customers, on time with zero defects, produced sustainably at the lowest total cost. NCAB was founded in 1993. Since its foundation, the operations have been characterized by an entrepreneurial and cost efficient culture and have over time showed strong growth and good profitability. Today, NCAB has local presence in 17 countries in Europe, Asia and North America and customers in approximately 45 countries worldwide. Revenue in 2018 amounted to SEK 1.617 million (US$186 million). Organic growth and acquisitions are part of NCAB’s strategy. For more information about NCAB Group please visit us at ncabgroup.com.