NCAB Acquires PCB Units of EPI Components Trade, DVS Global

BASSANO DEL GRAPPA, ITALY – NCAB Group in July announced the acquisition of the PCB division of DVS Global, an Italian electronics provider. The PCB distributor will pay SEK200 million ($18.6 million), with a possible further earnout of a maximum of SEK45 million ($4.2 million).

DVS was founded in 2003 and also has offices in Switzerland, Hong Kong and China. Annual sales of the PCB division in 2023 amounted to SEK230 million ($21.4 million), with sales primarily directed toward Italian customers in the industrial and automotive sectors.

NCAB is acquiring the PCB division of the company, while the previous owners will focus on the remaining division, Teknokit. The deal is expected to close in September and the sellers will stay during a transition period.

NCAB Group said it expects the acquisition to be accretive to earnings in 2025.

“DVS is an important addition to NCAB Italy,” said Peter Kruk, CEO, NCAB. “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.”

“Since its foundation, DVS has built its reputation on excellence of customer service, a stable and well managed supply chain and loyal enthusiastic employees,” said sellers Denis Vigo and Paolo Facco. “We have been looking for a way to expand our business and bring more opportunities to our customer base. 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.”

NCAB Group also has acquired the former printed circuit board unit of EPI Components Trade, based in Lireserbrucke, Austria, along with its employees and customers.

The unit’s annual revenues are roughly SEK 35 million ($3.34 million), mainly from industrial customers, and a profitability in line with NCAB’s.

The unit has four employees including owner, Christian Brugger, who will stay on, NCAB said. Sourcing comes mainly from Slovenia. Synergies are expected in the areas of suppliers, payment terms and logistics.

In a press release, Benjamin Klingenberg, vice president, NCAB Europe, said, “I am very excited about this acquisition in the important Austrian market. In the past, Austria was served from the German NCAB operation and with this move we get boots on the ground with an organization and management to fully focus on our customers there. With Christian and his team, we will win a lot of PCB know-how and customer relationships.”

Added Brugger: “I am pleased to become part of the NCAB Group with our employees, who have more than 20 years of experience in PCB sales in Austria. With the entire NCAB portfolio, we can offer our customers a wider range of service which will give us new business opportunities and make us able to expand our customer relations.”

ZDT JV Signs Agreement to Develop Thai PCB Workforce

BANGKOK – Peng Shen Technology, a joint venture between Saha Group and Zhen Ding Technology, has initiated a collaborative project with Thai educational institutions to develop local talent for the country’s PCB manufacturing industry.

The company has signed cooperation agreements with five leading Thai educational institutions with a stated goal to increase Thailand’s share of the global PCB production and elevate its position to the forefront of the industry.

The company said the collaboration aims to achieve five key objectives:

• Collaboration on developing national industry policies
• Collaboration on training and developing PCB personnel
• Collaboration on teaching PCB-related vocational subjects and training industry experts
• Collaboration on student internships, both domestic and international
• Collaboration on factory visits, career guidance, and job promotion

Peng Shen said it is confident that this cooperation will help drive the organization’s mission to develop science and technology that benefits humanity, while also restoring and preserving the environment, making the world a better place.

Representatives from the company and educational institutions attended a signing ceremony in June with Siriporn Pittayasophon, senior strategist and acting director of Thailand’s National Higher Education, Science, Research, and Innovation Policy Council, serving as the guest of honor.

Pittayasophon said MHESI has a strategy to promote and develop human resources in semiconductors and advanced electronics to prepare for driving the Thai economy toward a sustainable future, and the announced initiative is expected to reassure investors and significantly contribute to developing high-skilled personnel that meets the needs of the country’s advanced electronics industry.

Vorayos Thongtan, president of Saha Pathana Inter-Holding, said the rapid advancement and growth of current technologies, such as AI, electric vehicles and the Internet of Things have increased the complexity and demand for PCBs. He said China is the world’s leading PCB production base, followed by Taiwan, South Korea, and Japan, while Thailand is recognized as the leading PCB manufacturing base in ASEAN, attracting foreign PCB investors due to the expansion of production bases and continuous relocation of manufacturing plants to Thailand.

Peng Shen Technology marks the beginning of ZDT Group’s expansion into ASEAN. The company is currently constructing a factory in Saha Group Industrial Park in Kabinburi, which will impact Thailand’s potential to become a leading PCB production country in the world, Thongtan said, so preparing infrastructure to support manufacturers must go hand in hand with developing skilled PCB personnel.

The collaboration with five leading educational institutions, namely King Mongkut’s Institute of Technology Ladkrabang (KMITL), King Mongkut’s University of Technology North Bangkok (KMUTNB), Kasetsart University, National Institute of Development Administration (NIDA), and Sirindhorn International Institute of Technology (SIIT), Thammasat University, is a significant step toward a shared future and serves as a declaration of Thailand’s commitment to becoming a global PCB production hub, Thongtan said.

APCT Relaunches as AdvancedPCB

AURORA, CO – Advanced Printed Circuit Technology, Advanced Circuits and San Diego PCB Design have combined to relaunch as AdvancedPCB.

“Since the founding of APCT in 1977, we’ve expanded operations and expertise through more than 10 acquisitions. At the same time, we’ve consistently teamed up with global leaders in PCB design, manufacturing, and innovation,” said Peter Austin, CEO, AdvancedPCB. “This new brand represents our commitment to powering the next generation of technology, from healthcare to aerospace and defense to consumer products.

“The semiconductor industry continues to grow quickly in North America and across the globe. American-made AdvancedPCB is well positioned to service this growth,” Austin added. “Our products and solutions extend through global markets, providing enterprises in myriad sectors outside of North America with the same range of security, reliability, and quality standards that customers within the United States have come to expect.”

AdvancedPCB operates six PCB manufacturing sites and four PCB design sites across the United States, employing nearly 1,000 people and already serving as the second-largest PCB manufacturer in North America. With an expansive factory network and design capabilities, AdvancedPCB said it can manufacture a wide range of custom circuit boards, from simple prototypes to complex production, while providing high-quality technology and rapid turn times.

AdvancedPCB also launched a new website, which allows users to quickly find products and design services for the next wave of advanced technology. PCB enthusiasts and designers can create custom designs and get instant quotes.

Alba PCB Group Acquires WM Eltar

TARNOWSKIE GORY, POLAND – Alba PCB Group has acquired fellow printed circuit board fabricator WM Eltar, based here outside of Krakow.

Terms were not disclosed.

WM Eltar specializes in the production of single- and double-sided PCBs, aluminum and flex PCBs. Alba produces PCBs and offers R&D and engineering in Italy and China.

“The two companies share that the advantages of the transaction lie in the synergy of corporate values that start with European production,” said Alberto Bacchin, president, Alba PCB Group. “The strength of local production led by experienced professionals such as Dorota Łozowska, lies above all in the complementarity of offers and markets and makes it possible to optimally meet customers’ needs and ensure a stable and competitive presence on the local and international market.”

“This is a crucial moment in the development of WM Eltar,” said Dorota Łozowska, CEO, WM Eltar. “Joining Alba PCB Group will allow us to significantly expand the offer for Polish customers and support them in business development. Thanks to the state-of-the-art technology of the Italian factory and a professional service from Asia, with a well-established and structured presence in China, we will be able to offer a complete PCB portfolio and professional service.”

Wistron to Invest $25M in Latest Vietnam Campus

DONG VAN WARD, VIETNAM – Wistron is investing $24.5 million in a new campus for electronics assembly in northern Vietnam, local media are reporting, citing government filings.

Equipment installation for the 49,000 sq. m. campus in the Dong Van III industrial park is scheduled for November, with production beginning shortly thereafter.

According to reports, the plant will have an annual capacity of more than four million LCD displays, docking stations, webcams and other Internet-related devices.

Wistron is also investing $45 million in another site in Ha Nam. The ODM, ranked among the top five on the CIRCUITS ASSEMBLY Top 50, has invested more than $360 million in the country since 2020 as it rebalances capacity with India and China.

Variosystems Acquires Swiss EMS Firm

STEINACH, SWITZERLAND – Variosystems in June announced the acquisition of the EMS division of the Swiss electronics components manufacturer Schurter.

With the acquisition of Schurter Solutions, Variosystems said it has strengthened its European supply chain by adding a manufacturing site in Romania, and enhanced its engineering and rapid-prototyping capabilities via a second VARIOincubator hub in Mendrisio, Switzerland. The facility in Mendrisio will support and develop customers in Northern Italy, France and Switzerland, the company said.

The two added locations in Mendrisio and Gruiu, Romania, double Variosystems’ production capacity in Europe. The manufacturing site in Romania will focus on high-volume customer programs that require highest cost competitiveness. The site in Mendrisio will focus on engineering, rapid-prototyping and low-volume production services.

“With the acquisition of Schurter Solutions, we expand our expertise in the development and rapid prototyping of electronics solutions and strengthen our supply chain in Europe. By doing this, we accelerate our transformation into a global contract development and manufacturing organization (CDMO) and support our European customers in their nearshoring initiatives,” said Variosystems CEO Stephan Sonderegger. “We are delighted to be able to offer existing Schurter Solutions customers direct access to our integrated electronics service platform and global supply chain network, giving them a competitive advantage.”

By handing over its electronics manufacturing, Schurter said it is ensuring long-term job security and pooling resources for the ongoing development of its core business.

“Schurter Solutions has established itself as a first-class address for all-inclusive solutions and is now moving to Variosystems, where it will be in the best of hands,” said Lars Brickenkamp, CEO, Schurter, “Together, we are setting the course for the successful further development and will remain closely connected as a partner in the future.”

Variosystems’ VARIOincubator sites provide services for development and industrialization of electronic solutions, and following the acquisitions of Solve GmbH in Buchs, Switzerland, in 2020 and Kubeg AG, in Zizers, Switzerland, in 2023, the integration of the Mendrisio site is the third major step in the company’s VARIOincubator initiative.

With Schurter Solutions’ location in Romania, Variosystems said it has completed its supply chain in Europe. In addition to its production site in Croatia, which specializes in box-build assembly services, the hub in Romania will focus on printed circuit board assembly, permitting the company to offer an integrated supply chain between the two locations for cost-competitive box-build assembly.

“The integration of Schurter Solutions enhances our production services in Europe and makes Variosystems an ideal partner for customers that require a cost competitive supply chain in that region,” said Stefan Walther, COO, Variosystems.

Starteam Acquires Italian PCB Factory

HONG KONG – Starteam Global has acquired CTB Circuiti Stampati and its PCB manufacturing facility located in the Italian town of Flero.

The PCB manufacturer said the new factory has been rebranded as Flero Starteam, and amplifies its manufacturing capability and market presence in Europe. Starteam said Flero Starteam will concentrate on innovation through prototyping, sample production, specialized high-mix, low-volume manufacturing, quick turn, and customized requirements.

“This expansion is a milestone for Starteam, reinforcing the company’s presence in the heart of Europe and highlighting its dedication to serving its European customers in the most local and flexible way,” the company said in a release.

The Flero facility’s technology will initially focus on manufacturing one- to two-layer PCBs, including PTFE base material (Teflon) for high-frequency applications, with plans to expand capabilities up to six layers by 2025, Starteam said.

Uwe Schneider, formerly automotive technical director at the Jiangyou Starteam factory in China, has been appointed general manager. Roberta Tonini, the former owner of CTB, will also take on the general manager role.

Nano Dimension to Acquire Desktop Metal

WALTHAM, MA – Nano Dimension entered into a definitive agreement to acquire all outstanding shares of Desktop Metal for around $183 million.

Under the agreement, Nano Dimension will acquire all outstanding shares of the 3-D printing system provider in an all-cash transaction for $5.50 per share, subject to possible downward adjustments to $4.07 per share, for a total price of approximately $183 million, possibly down to $135 million in total with possible adjustments.

The transaction is expected to close in the fourth quarter of 2024, subject to the satisfaction of customary closing conditions.

“Our combination with Desktop Metal is another step in Nano Dimension’s evolution to become the leader in digital manufacturing, with capabilities in mass manufacturing for critical industrial applications,” said Yoav Stern, CEO, Nano Dimension. “We’re excited to join forces with an excellent group of technology leaders, all of whom share our vision for transforming manufacturing to Digital Industry 4.0. I look forward to working with Ric Fulop and his team to drive value for all our stakeholders, including creating opportunities for our employees as part of a larger, more diversified global innovative company, driving customer support and generating long-term growing value for shareholders as we focus on profitable growth.”

“We’re excited to bring together our pioneering, complementary product portfolios that will further enhance our ability to serve our customers in high-growth industries with a more complete offering of digital manufacturing technologies for metal, electronics, casting, polymer, micro-polymer and ceramics applications,” said Ric Fulop, Desktop Metal CEO and cofounder. “We look forward to working with Nano Dimension to join two great companies and their devoted teams that can serve our stakeholders to the maximum extent possible.”

Desktop Metal maintains platforms focused on industrial-volume scale applications of metal and polymer with proprietary materials, software, and sintering solutions, and the combined company will be the first AM provider covering the full gamut of customer needs from prototyping to production across a range of critical and high-performance medical and electronics applications in industrial and high-performance materials, Nano Dimension said in a release.

The company said Nano Dimension and Desktop Metal’s portfolio will be focused on high-tech, high-margin solutions and are supported by an installed machine base of over 8,000 systems, representing significant opportunities for recurring revenue generation from a larger services and consumables offering. The combined company will benefit from a significantly enhanced scale and a diversified profile with 2023 combined revenue of $246 million.

Kitron to Build New Production Facility

ARENDAL, NORWAY – Kitron is planning a 7,500 sq. m. production facility here, with plans for completion during the first half of 2026.

“There is growth and a high level of activity at Kitron in Arendal, and we believe the activity will increase further in the years to come,” said Heine Østby, managing director of Kitron Norway. “We are simply outgrowing the current premises. Now we get the opportunity to help design the perfect building for our needs. This gives us the opportunity to grow further here in Arendal, where Kitron has its roots back to the 1960s. We are extremely happy about that.”

Kitron’s operations in the area are currently divided between a facility of 7,300 sq. m., in Kilsund, Norway, and 4,000 sq. m. of rented premises at Stoa. When the new facility is ready, the company will move its Stoa operations to the new site, while the plant in Kilsund will continue as is.

Garner Osborne Acquired by Entrepreneur

NEWBURY, UK – Garner Osborne, a UK-based specialist in PCB manufacture and assembly, has been acquired by entrepreneur Dean Curran through Novastone Capital Advisors’ Entrepreneurship Through Acquisition program.

Operating for more than 33 years, Garner Osborne delivers PCBs that include rapid prototyping, small- to medium-sized volumes, and large-volume offshore manufacture. The transaction provided an exit for founder and former CEO Mike Garner and his business partner Nigel Priest, with Curran stepping into the business as CEO and co-owner. Garner will remain a minority stakeholder in the company.

“I am grateful to Mike for trusting me to continue his legacy,” said Curran. “I have been hugely impressed by the operational excellence and extremely high-quality PCB products that Garner Osborne manufactures, supplying a diverse range of customer sectors. The business has great potential for growth.”

Curran said NCA’s Entrepreneurship Through Acquisition program played a pivotal role in finalizing the acquisition.

“This deal would have been impossible without NCA’s support, in particular Albert Farreras and Isaac Leyne from NCA’s European M&A team, and Noora Haapaniemi from NCA’s legal department,” he said. “Having a team that I could turn to throughout the process really proved this program is unparalleled in comparison to anything else in the search fund world.”

Lava Considers Spinoff of Manufacturing Arm

NOIDA, INDIA – Lava International is reportedly considering a spinoff of its production arm into a separate company, which may generate business from other handset brands and help meet targets under the production-linked incentive scheme for smartphones.

The contract manufacturer, which has not been able to meet its PLI smartphone targets since the scheme began in 2020-21, is hopeful of a turnaround in its manufacturing fortunes with the upcoming incentive package for component production, head of manufacturing Sanjeev Agarwal told The Economic Times.

“Lava’s performance in the ongoing PLI scheme is an internal concern, and we are working on plans to bridge the gap,” he said.

Agarwal said the company could spin off the manufacturing arm to make it independent, but has not yet decided.

He said the company’s failure to meet smartphone PLI targets starts with a higher base that made incremental targets more difficult for Lava than others who started their manufacturing journey with the onset of the scheme. The company also could not benefit from the Indian government’s push toward Chinese smartphone brands working with PLI-eligible domestic firms for meeting local demand and exports, as rival brands have policies in place to not partner with manufacturers who also operate their own brand, Agarwal said.

Lava also plans to start localizing more components after starting with printed circuit board assembly, ET reported.

“Now we are seeing which other components we need to focus on from the bill of materials. This will be based upon technology and capital requirements – which ones to do in-house and which components to outsource, that’s what we are working on,” Agarwal said.

FIT Launches In-House Circuit Assembly Services

MILPITAS, CA – Flex Interconnect Technologies launched its own circuit board assembly service in June, bolstering support for product development initiatives throughout North America.

“We are thrilled to now offer in-house assembly,” said Chetan Shah, president and CEO, FIT. “We recognize the growing demand in the electronics market for quickturn, low-volume circuit assembly with exceptional quality and high yields.”

While reshoring has brought assembly work back to the United States, higher volume production orders take up existing assembly capacity, the company said. Product development teams can struggle to find low-volume solutions to meet their go-to-market timelines, and by focusing on low-volume projects with quickturn timelines, FIT said its offering fills a current hole in the market.

The company said it will be able to offer faster quote turnarounds, shorter lead times and more competitive pricing.

“Our assembly service will quickly be a valuable tool for our customers,” said Shah. “Our quickturn capabilities will allow them to bring their ideas to market more quickly than ever.”

Chinese EDA Startup Slashes Workforce

NANJING, CHINA – X-Epic, a Chinese developer of electronic design automation tools, is rumored to be laying off 50% of its workers after struggling to gain ground in the EDA space.

The South China Morning Press reported that the firm is struggling in its mission to make up ground on the US firms that dominate the EDA space: Cadence, Synopsys and Mentor Graphics.

X-Epic was founded in March 2020 and raised $121.7 million while developing a suite of chip design software EDA tools covering areas such as digital chip verification, hardware simulation, system debugging, and cloud-based verification.

SCMP reported that progress has been slow for X-Epic and other Chinese EDA companies, which saw their business dip in the first quarter, with the biggest Chinese firm – Empyrean – seeing first quarter profits drop 64% year over year.