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NCAB Signs Acquisition of DVS Global in Italy
July 22, 2024 | NCAB GroupEstimated reading time: 1 minute
DVS was founded in 2003 and has its headquarter in Bassano del Grappa, Italy, as well as offices in Switzerland, Hong Kong and China. The annual turnover of the PCB division in 2023 amounted to SEK 230 million with 31 employees. Sales are directed towards Italian customers in the industrial and automotive sectors. The sourcing is mainly from China. The current annual EBITA level is almost SEK 40 million.
NCAB is acquiring the PCB division part of the companies, whilst the previous owners will focus on the remaining division, Teknokit. The deal is expected to be closed in September and the sellers will stay during a transition period securing a smooth integration.
The acquisition is expected to be earnings accretive for NCAB Group in 2025. Synergies are expected in the areas of suppliers, payment terms and logistics and this will further strengthen NCABs position on the Italian market. The purchase price will amount to SEK 200 million with a possible further earnout of a maximum of SEK 45 million.
Peter Kruk, CEO NCAB Group: “DVS is an important addition to NCAB Italy. The business concept is similar to NCAB’s and the company has a good reputation and a strong market position, being located close to the areas that have a high density of electronics industries in Lombardy and Veneto. Adding DVS to our existing operations in Italy, including the acquisition of Prevent in 2021 and BBC in 2022, is making NCAB a major player in the PCB market in Italy. ”
Sellers Denis Vigo and Paolo Facco: “Since its foundation, DVS has built its reputation on excellence of customer service, a stable and well managed supply chain and loyal enthusiastic employees. We have been looking for a way to expand our business and bring more opportunities to our customer base. We are honoured to have been chosen by what we consider one of the most important players in this field in the world. We are excited to join forces with NCAB and are confident this will be an interesting and rewarding step both for our customers and employees.”
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