Global technology distributor of printed circuit boards, Icape Group, has announced that it is has acquired Møn Print, a major supplier of PCB solutions in Denmark. The Danish company, which has been active in the industry for more than 50 years, will be known as Icape Denmark.
According to a press release, the purchase price was €0.7 million, although this may be subject to additional payments depending on the company‘s 2022 and 2023 results. In 2021, the Danish company generated annual net sales of DKK 9.4 million (EUR 1.27 million) and EBIT of DKK 0.7 million. The Group expects Møn Print‘s annual sales to grow by slightly more than 10% and its EBIT margin to significantly improve in 2022.
“We are thrilled to welcome within our Group such a renowned player in Denmark and Northern Europe, strengthening our position in this region,” Cyril Calvignac, Icape Group‘s CEO, stated in the release. “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 Møn Print which will benefit from the complete range of high value-added services of [the] 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.”
“Icape Group is a great structure with local offices in many countries, and with more than 600 employees around the world,” said Tina Perdersen, CEO of Møn Print. “Thanks to its organization, network, global strategy, and proven processes, [it] became a major player in the PCB industry. We are happy to integrate such a serious, dedicated, and successful company to look ahead with confidence for our customers. With Icape Group, we expect to be one of the leading PCB suppliers in Denmark,”
According to company information, Icape Denmark will continue to operate from the Møn Print facility in Stege with its current team, which will be reinforced by the Icape Group’s local sales engineers in the country.
