ICAPE GROUP Steps up Pace in Germany With the Acquisition of PRINCITEC
13 September 2023 - 6:00PM
Business Wire
Regulatory News:
ICAPE Group (ISIN code: FR001400A3Q3 - Ticker: ALICA), a global
technology distributor of printed circuit boards ("PCB"), today
announced the acquisition of 100% of the capital of PRINCITEC, a
high value-added supplier of PCB.
Since 2004, PRINCITEC, located near Düsseldorf, has been
providing the full range of technical, sourcing and quality
services associated with the distribution of printed circuit
boards. Backed by a network of 11 distributors in Asia and Europe,
the company benefits from the commercial capacity to meet the needs
of a wide variety of industries within very tight deadlines, thanks
in particular to its wide range of products. With a base of 35
active customers, mainly located in Germany, PRINCITEC generated
revenue of €6.5 million in 2022, with a gross margin of around
25.5%.
With this operation, ICAPE Group is unlocking a significant
synergy potential while continuing to diversify its sourcing, thus
reinforcing its unique logistical capacity to deliver on time,
everywhere in the world and at the best cost. Following the
acquisition of HLT announced at the end of May 2023, this new
signature also strengthens ICAPE Group's positioning on the German
market, Europe's leading printed circuit board market.
Yann DUIGOU, CEO of ICAPE Group, stated: "With the
acquisition of PRINCITEC, we pursue the acceleration of our
external growth strategy, focusing on supply and commercial
synergies and cost optimization. PRINCITEC presents all the
necessary assets to generate incremental organic growth following
its integration into our Group. In addition, its seasoned team,
solid supplier network and customer portfolio spanning a wide
variety of industries will strengthen our position in Germany, one
of the world's leading markets. Our pipeline of potential
acquisitions remains very strong, and we are in advanced
discussions with targets covering all geographies, enabling us to
reiterate our target of €30 million in additional revenue this
year."
Bernhard TSCHAMPEL, Managing Director of PRINCITEC,
added: " ICAPE Group, in addition to its position as a leading
player in our market, has a set of values in line with our DNA,
focused on product quality and customer relations. Thanks to this
association, our customers will benefit fully from ICAPE's
purchasing power and unique logistics platform, which will lead to
a strengthening of the quality of service provided by our teams. We
look forward to collaborating with the Group's German subsidiary to
deploy the potential synergies between our two entities."
Like the recent acquisition of HLT, this transaction is carried
out by the subsidiary ICAPE Deutschland Gmbh and is financed 100%
in cash. PRINCITEC's 9 team members will also strengthen the
Group's local subsidiary.
About ICAPE Group
Founded in 1999, ICAPE Group acts as a key technological expert
in the PCB supply chain. With a global network of 35 subsidiaries
and a major presence in China, where most of the world’s PCB
production is done, the Group is a one-stop-shop provider for the
products and services which are essentials for customers. As of
December 31, 2022, ICAPE Group recorded a consolidated revenue of
nearly €220 million.
For more information: icape-group.com
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version on businesswire.com: https://www.businesswire.com/news/home/20230913522434/en/
ICAPE Group CFO Arnaud Le Coguic Tel: +33 1 58 18
39 10 investor@icape.fr
Investor Relations NewCap Nicolas Fossiez
Louis-Victor Delouvrier Tel: +33 1 44 71 94 98 icape@newcap.eu
Media relations NewCap Arthur Rouillé Antoine
Pacquier Tel: +33 01 44 71 94 94 icape@newcap.eu
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