PARIS, FRANCE: Icape Holding, a global technology distributor of printed circuit boards, announced the acquisition of 100% of the shares in MON PRINT, a major supplier of PCB solutions in Denmark.
The purchase price amounts to €0.7 million, and may be subject to additional payments depending on MON PRINT’s 2022 and 2023 results.
In 2021, MON PRINT generated annual net sales of DKK 9.4 million and EBIT of DKK 0.7 million. The Group expects MON PRINT’s annual sales to grow by slightly more than 10% and its EBIT margin to significantly improve in 2022.
Cyril CALVIGNAC, ICAPE Group’s CEO, stated: “We are thrilled to welcome within our Group such a renowned player in Denmark and Northern Europe, strengthening our position in this region. This acquisition is in line with our ambitious external growth strategy, as announced during our IPO, in order to consolidate our global leadership in the PCB distribution through now 29 subsidiaries worldwide.
This strategic operation enables us to offer a close proximity to our industrial customers by joining forces with a local player, guaranteeing a high quality of service. It is with enthusiasm that we will share our know-how with MON PRINT which will benefit from the complete range of high value-added services of ICAPE Group. We are confident to complete several other acquisitions by the end of the year, with the same objective of generating commercial and purchasing synergies, in line with our profitable growth objectives.”
Founded in 1965, MON PRINT is a Danish supplier of PCB providing a wide range of high-value solutions. MON PRINT provides a high level of services for its customers in the Medical, Telecommunications, Industrial and Commercial markets.
Now benefiting from the entire ICAPE Group platform, including sourcing, purchasing, quality, laboratory and customer service, as well as its network of 75 partner factories mainly located in China, MON PRINT will now be able to offer more services to its customers, increase its volumes and thus increase its profitable growth.
The acquisition will be consolidated from January 1st, 2022 and is fully financed by Icape Holding in cash. In order to make MON PRINT benefit from the influence of the ICAPE brand, the new entity will be named ICAPE DENMARK and will be integrated as a subsidiary of Icape Holding.
Founded in 1999, ICAPE Group acts as a key technological expert in the PCB supply chain. With a global network of 29 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. In 2021, ICAPE Group generated consolidated revenue of €169 million.