STOCKHOLM – NCAB Group has announced the acquisition of the PCB division of DVS Global, an Italian electronics provider.

The purchase price will amount to SEK200 million ($18.6 million) with a possible further earnout of a maximum of SEK45 million ($4.2 million).

DVS was founded in 2003 and has its headquarter in Bassano del Grappa, Italy, as well as offices in Switzerland, Hong Kong and China. The annual turnover of the PCB division in 2023 amounted to SEK230 million ($21.4 million), with sales primarily directed toward Italian customers in the industrial and automotive sectors.

NCAB is acquiring the PCB division part of the company, while the previous owners will focus on the remaining division, Teknokit. The deal is expected to be closed in September and the sellers will stay during a transition period.

NCAB Group said it expects the acquisition to be earnings accretive in 2025, with expected synergies in the areas of suppliers, payment terms and logistics, and a further strengthening of NCAB's position in the Italian market.

"DVS is an important addition to NCAB Italy," said NCAB CEO Peter Kruk. "The business concept is similar to NCAB’s and the company has a good reputation and a strong market position, being located close to the areas that have a high density of electronics industries in Lombardy and Veneto. Adding DVS to our existing operations in Italy, including the acquisition of Prevent in 2021 and BBC in 2022, is making NCAB a major player in the PCB market in Italy."

"Since its foundation, DVS has built its reputation on excellence of customer service, a stable and well managed supply chain and loyal enthusiastic employees," said sellers Denis Vigo and Paolo Facco. "We have been looking for a way to expand our business and bring more opportunities to our customer base. We are honoured to have been chosen by what we consider one of the most important players in this field in the world. We are excited to join forces with NCAB and are confident this will be an interesting and rewarding step both for our customers and employees."