BROMMA, SWEDEN -- NCAB Group today announced its acquisition of M-Wave International's PCB division. The deal between the two printed circuit board distributors creates a single company with revenues of more than $130 million per year.
The purchase of Chicago-based M-Wave is NCAB's second major deal in three years. In 2012 it acquired PD Circuits, another US-based board broker.
Privately held M-Wave has annual revenues estimated between $15 and $25 million a year. Including M-Wave, NCAB Group now has 13 locations around the world and 250 employees, including 70 in China.
“This is a great opportunity for all of us," said Bob Duke, former president of M-Wave's PCB division. "As the PCB supply market continues to evolve, I felt that this was an excellent time for M-Wave to expand its resources. Joining with NCAB will give us even more leverage to support our customers’ requirements."
Duke has been named managing director of NCAB. He copurchased the company in 2008. The companies did not indicate whether M-Wave founder Joe Turek would remain.
“The US is a huge market, bigger than Europe and very much quality drive," said Hans Ståhl CEO at NCAB Group. "I´m extremely happy for this acquisition as the next major step in NCAB’s effort to expand their ever growing presence in the US market. M-Wave has same business concept and customer driven organization with the same way of thinking regarding quality, the foundation of all PCB production.”
NCAB was founded in 1993 in Sweden and also has operations in Norway, Finland, Denmark, Russia, Germany, Poland, UK, Spain, France, Macedonia, China and the US.