Context
Elmatica started operations in 1971 and is one of the oldest printed circuit board ("PCB") trading companies in the world. Recognized as a renowned player being in the forefront of industry developments as a member in several industry associations developing standards for the future
Headquartered in Norway, Elmatica act as a partner to industry leading electronic original equipment manufacturers (OEM) in the entire purchasing process including consulting, design, material selection, manufacturing selection, production monitoring, logistics and claims handling
After several years of strong growth, the shareholders wanted to explore a sale of the company and appointed Bryan, Garnier & Co as financial advisor
NCAB Group recognized the strategic value of Elmatica's brand, operational capabilities and industry knowledge
The purchase price for Elmatica amounts to SEK 315 million with a possible added earn-out price based on the results in 2021
With this acquisition, NCAB will broaden its product portfolio, increase its ability to serve leading electronics OEMs and strengthen its purchasing power with leading factories
About NCAB Group AB
NCAB is a worldwide leading supplier of printed circuit boards, listed on NASDAQ Stockholm. NCAB offers 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 characterised by an entrepreneurial and cost-efficient culture and have showed strong growth and good profitability over time. Today, NCAB has a local presence in 16 countries in Europe, Asia and North America and customers in approximately 45 countries worldwide. Net sales in 2020 amounted to SEK 2,115 million. Organic growth and acquisitions are part of NCAB’s strategy.
About Elmatica AS
Elmatica was established in 1971 and is the most experienced broker of PCB in the world. Headquartered in Oslo, Norway, with subsidiaries in Sweden, Denmark, Germany, Hong Kong and China. Delivering to 5 continents and 39 countries with over 10 000 orders per year, to both small family businesses and companies listed on the stock exchange. Elmatica is a partner in the entire purchasing process assisting industry leading electronic original equipment manufacturers (OEM) with consulting, design, material selection, manufacturing selection, production monitoring, logistics and claims handling. With over 45 years’ experience in the industry, Elmatica has a unique understanding of the market by procuring on four continents and delivering to five. Elmatica is honored by leading several new independent standards in the industry, with organizations like IPC and iNEMI. Elmatica is expected to have Net sales of approximately SEK 370 million in 2021, with an EBITA result of approximately SEK 45 million.
Bryan, Garnier & Co acts as Sole Financial Advisor to the shareholders of Elmatica in the sale of the company to NCAB Group AB
Bryan, Garnier & Co acted as Sole Financial Advisor to Elmatica and its shareholders. The team worked with the shareholders and management to prepare and run a focused process aimed at renowned industry players and selected private equity sponsors
Bryan, Garnier & Co assisted in preparing sales documentation, conducting buyer reach-out, negotiation and coordinating due diligence processes
This transaction is a further demonstration of Bryan, Garnier & Co’s expertise and track record in the Tech-enabled Business Services sector, a key area of focus for the bank. It builds on other notable transactions that include the acquisition of Biobag International by Novamont, investment in Groupe GSCM by Equistone and investment in Kéa & Partners by Crédit Mutuel Equity.
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