OSLO, NORWAY – NCAB has acquired 100% of the shares in printed circuit board broker Elmatica for SEK315 million (US$36.5 million), financed by cash and loans. The purchase price includes a possible added earn-out price based on the results in 2021.

Elmatica expects net sales of approximately SEK370 million (US$42.9 million) in 2021, with an EBITA of approximately SEK45 million (US$5.2 million).

The acquisition is consolidated from today and implies an increase in earnings per share in NCAB in 2022.

“We are very pleased to have acquired Elmatica,” said Peter Kruk, president and CEO, NCAB. “It is one of the larger companies in our field and operates just like NCAB in the HMLV segment (high-mix low-volume). Elmatica has a very good reputation in the marketplace for its great know-how and high quality. It will constitute a valuable addition to both our Nordic and Europe segments and will strengthen our purchasing power with the leading factories. We both have the same focus on high quality, and our business models and company cultures fit well together.”

“Having built up Elmatica for 50 years, it is now time for the next step, and there is a strong market logic for this combination. NCAB will be a good owner of Elmatica in the eyes of both customers and employees,” said Petter Hatlem, chairman, Elmatica.

“In NCAB, we will get a strategic owner with a global customer base, and together we can further broaden the product portfolio that we offer our customers,” said Didrik Bech, CEO, Elmatica. “Both companies are based on similar Scandinavian values with a particular focus on high quality for advanced products and high customer satisfaction. The integration of our global manufacturing network, highly qualified colleagues and advanced IT systems will further secure the role of a global player in the PCB industry. I look forward to joining the NCAB Group to secure integration and to expand and ensure the supply chain for our customers who are leaders in their industries.”

Elmatica will initially be part of the Nordic segment, and Elmatica's current CEO Didrik Bech will continue as CEO of NCAB Group Elmatica.