Apr 24, 2020 NCAB Group, one of the world’s largest suppliers of Printed Circuit Boards, with headquarters in Sweden, has on the 24th of April signed an agreement to acquire 100% of the shares in Bare Board Group, Inc. (BBG).
BBG is based in Largo Florida and had a revenue of approximately 30 million USD in 2019.
“We are very happy to join forces with BBG,” says Martin Magnusson, President of NCAB Group USA. “NCAB Group USA and BBG together will take on a leading position in the U.S. PCB market. This brings additional value to our North American segment with increased ability to offer our customers superior quality and service as well as more volumes to our existing factories. BBG’s supply chain management and factories are mainly located in Taiwan, which is a great supplement to our existing factory base and allows for more options in order to satisfy our customers´ PCB demands in the future. We have the same value-driven organization and the same focus on giving our customers excellent quality and service.”
"This deal is very exciting and positive, both for our customers and employees," says Jason Liu, former co-owner of BBG. “Our customers will get access to more factories with the best technology. For our employees, we join a great international organization with many new, highly-skilled colleagues. This will further develop and strengthen us for the future.”
“We are thrilled to be joining with NCAB Group in the US,” says Adrienne Ridley, former co-owner of BBG. “Being selected by NCAB Group to be a part of their North American growth is a great compliment. As the PCB supply market continues to evolve this is an excellent time to take this step and grow together.”
For further information, please contact:
Anders Forsén, CFO +46 (0)8 4030 0051
Gunilla Öhman, Head of Investor Relations, +46 (0)70 763 81 25
Martin Magnusson, CEO USA and Vice President for North America, +1 (603) 812-3057
NCAB is a worldwide leading supplier of printed circuit boards, listed on NASDAQ Stockholm. NCAB is offering PCBs for demanding customers, on time with zero defects, produced sustainably at the lowest total cost. NCAB was founded in 1993. Since its foundation, the operations have been characterized by an entrepreneurial and cost efficient culture and have over time showed strong growth and good profitability. Today, NCAB has local presence in 17 countries in Europe, Asia and North America and customers in approximately 45 countries worldwide. Revenues in 2019 amounted to SEK 1 781 million (178 million USD). Organic growth and acquisitions are part of NCAB’s strategy. For more information about NCAB Group please visit us at www.ncabgroup.com.
