FONTENAY-AUX-ROSES, FRANCE — ICAPE Group, a global technology distributor of printed circuit boards, announced Monday that it has acquired 100% of the shares in the Sweden-based MMAB Group.

MMAB Group is a manufacturer and distributor of PCB for small quantities and prototypes on an express delivery basis, with activities mainly focused on Scandinavia. In addition to its Northern European operations – consisting of a production factory and headquarters – the group has two subsidiaries in Eastern Europe – one in Hungary and the other in the Czech Republic – as well as a sourcing and logistics facility in China. With more than 200 active customers in the automotive, railway, defense and medical industries, MMAB Group saw revenues of SEK 132 million (US $12.7 million) and an EBITDA of nearly SEK 20 million ($1.9 million) over the past year.

Christelle Bonnevie, ICAPE Chief Industrial Officer, will oversee the integration of the MMAB Group’s factory within ICAPE Group, its industrial development and the optimization of its performance.

"The acquisition of MMAB Group is structuring in more than one way for ICAPE Group. We consolidate our presence in Northern Europe, already strengthened last summer by the alliance with MON PRINT, while pursuing our industrial policy with a new production factory based in Europe," said Cyril CALVIGNAC, ICAPE Group’s CEO. "The acquisition of MMAB Group confirms the external growth target set for 2022, namely the securing of €35 million of additional revenue. With our proven ability to make acquisitions, we intend to pursue this offensive strategy in the short and medium term while maintaining a policy of optimizing our organization and solid organic growth.”

"We are very proud to join ICAPE Group, one of the world leaders in PCB distribution. Through this alliance, we enable our customers to benefit from a complete range of high value-added services, whether technical, logistical or dedicated to quality and supplier sourcing. In addition to our technical expertise and our specific network of suppliers, we bring to ICAPE Group a European production platform that will cover the demand of customers looking for local production," said Tobias HJELM, MMAB Group’s CEO.