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Kelly Davidson, vice president of NCAB Group USA, discusses the company's stable performance in 2024 and positive outlook for 2025. She highlights NCAB's strategy of organic growth and strategic acquisitions amidst tariff concerns and global political uncertainty. Kelly emphasizes the importance of supply chain diversification, strong supplier relationships, and customer education, and notes NCAB's focus on defense production and maintaining a reliable supply chain.
Marcy LaRont: As we begin Q2 2025, what is the “state of the state” at NCAB?
Kelly Davidson: NCAB’s 2024 North American business was more stable than 2023. While Q4 revenue fell just short of our expectations, order income for the quarter exceeded them. Overall, 2024 was solid, and we achieved our goals. I would say we were slightly ahead of the market, but there was still a cautious position from our customers—not knowing what would happen coming out of an election year, concerns about tariffs, and broader global political uncertainty.
For 2025, we are continuing to see a positive trend along with our customers. NCAB USA is gaining market share, consistently winning new customers, with a strong focus on quality and global supply chain diversification initiatives.
LaRont: How do you see the PCB market evolving in the coming years, and what is NCAB’s strategy for growth?
Davidson: Looking ahead, we expect moderate organic growth, but the opportunity for increased investment in acquisitions will present itself this year. With supply chain shifts and tariff concerns, many smaller businesses will struggle to compete. In 2026, we predict stronger growth, possibly double what we anticipate for 2025.
However, the PCB market is dynamic, with increasing demands for advanced technology, supply chain resilience, and cost efficiencies. Our strategy is centered on both organic growth and strategic acquisitions. We are actively looking for strongly aligned, PCB-focused businesses with a quality-first approach to bring into NCAB Group, allowing us to expand our capabilities and strengthen our position in the U.S. market.
To continue reading this interview, which originally appeared in the April 2025 issue of PCB007 Magazine, click here.
