NORMANDY – Private equity firm Tikehau Ace Capital finalized the acquisition of 100% of the capital of Elvia PCB Group.

Alain Dietsch has been appointed CEO of Elvia PCB. He was previously CEO of Cobham Electrical and Electronic Equipment.

Bruno Cassin will leave his operational duties to join the supervisory board.

Elvia PCB had consolidated revenue of €60 million in 2019. The group manufactures PCBs for defense, aeronautics, space, industrial, telecom, automotive and medical.

“This project as a whole is an excellent opportunity for our employees and our customers,” said Cassin. “The group, strengthened by the financial strength of Tikehau Ace Capital and led by the management team in place, in whom I have great confidence, will be able to propel itself as the benchmark player in the ‘high-tech’ in Europe.”

“I am very happy to take over the management of Elvia PCB today, to succeed Bruno Cassin, who has taken the company to a leading position,” said Dietsch. “The Elvia PCB teams have unique skills, which, coupled with a specialized and high-capacity industrial tool, enable it to offer its customers cutting-edge and differentiated products operating in harsh environments. In particular, I bring my multi-market and multi-site management experience in France and abroad with the aim of strengthening our presence with our customers and developing new ones, particularly for export, by combining the technical differentiation of products to operational excellence for our customers.”

No financial terms of the deal were disclosed.

Register now for PCB East, the largest electronics technical conference and exhibition on the East Coast. Coming in April to Marlboro, MA.