FONTENAY-AUX-ROSES, FRANCE – Icape Group has acquired the operating assets of HLT, a German PCB distributor that generated revenue of €4.1 million ($4.4 million) in 2022.

HLT, based in Baden-Württemberg, a state known for its automotive industry, supplies PCB to around 50 well-known customers in various sectors, such as automotive, home automation, telecommunications, aerospace and medical. HLT has a network of six strategic suppliers and its own logistics capabilities, providing a range of high value-added services in high-mix low-volume markets.

In a release announcing the acquisition, Icape Group said HLT’s operating assets will strengthen its position as a leading player in one of the major markets for PCB distribution in Europe and worldwide. The acquisition will also consolidate and optimize the global network structured by Icape Group, offering a significant value creation potential.

"We are enthusiastic to strengthen our position in Germany through the acquisition of HLT’s operating assets," said Icape Group CEO Cyril Calvignac. "Its highly skilled team works daily for some of the biggest names in the industry and their expertise will be a great asset to our development in this mature market. HLT’s values, focused on high value-added service quality, match ours perfectly. We are confident that many synergies will arise from the combination of our know-how, particularly at local level."

"By joining the ICAPE Group, we are partnering with a world leader in PCB distribution, whose purchasing power, supplier network and logistics platform will enable us to deliver an even more differentiated service to our customers," said HLT Managing Director Ralf Heissenberger. "We look forward to working with the group’s teams, both in Germany and internationally, to leverage all the synergies that can be deployed between our two structures.

The acquisition was carried out by the subsidiary ICAPE Deutschland GmbH and is financed 100% in cash.