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NCAB has acquired 100 percent of the shares of Board Shark LLC, based in Florida, USA. In 2025, the company generated net sales of approximately USD 17million with an EBITA margin exceeding that of NCAB.
Founded in 2016 by Carl and Rachelle Moehring, Board Shark has established itself as a premier PCB solutions provider. The company has a small team of five employees but maintains a well-established network of regional sales representatives. Board Shark holds a solid market position notably in the western part of the United States, making it a strong complement to NCAB and supporting our efforts to expand our presence in this part of the country. Its customer base includes companies within e.g. the aerospace, industrial and medical sectors, and it excels in quick-turn deliveries.
The acquisition is expected to contribute positively to NCAB Group’s earnings in 2026. Synergies are anticipated in the areas of supplier relationships, payment terms, logistics, and cross‑selling opportunities, including prototyping services.
The upfront fixed purchase price, on a cash and debt‑free basis, amounts to USD 15 million. The transaction also includes an earn‑out of up to USD 11 million based on financial performance during the next 24 months.
Peter Kruk, CEO NCAB Group said, ”Board Shark’s development over the past few years has been impressive. The company demonstrates strong execution capabilities and has deep customer relationships. Its business model is closely aligned with that of NCAB, and Board Shark holds a solid market position on the US west coast with promising opportunities for further growth.”
Carl and Rachelle Moehring, former owners of Board Shark PCB said, “NCAB’s acquisition is a natural next step for the evolution of Board Shark PCB. Becoming a part of NCAB expands our ability to bring world-class global support and optionality to our customers while allowing our team to increase focus to what we love most – working with customers to solve their printed circuit board needs. We are excited about our future with the NCAB family.”
