STOCKHOLM – NCAB Group has expanded into Belgium with the acquisition of PCB supplier Cumatrix BV.

Cumatrix's net sales amounted to SEK7 million ($652,000) in 2023 with an EBITA margin of about 7%. The company has 2 employees, and the majority of its sales are concentrated to the industrial sector with sourcing from manufacturing partners in China.

NCAB said the acquisition is expected to be earnings accretive in 2024, and synergies are expected in the areas of suppliers, payment terms and logistics.

"This acquisition is small but all the same it presents a strategic opportunity for NCAB Group to establish a local presence in the Belgian market," said Benjamin Klingenberg, VP, NCAB Europe. "With this action, we also gain highly skilled and experienced personnel from the PCB industry, who will complement our existing capabilities and play a pivotal role in unlocking new growth opportunities and expanding our network in Benelux."

"We are happy to be able to enhance our business in the NCAB context," said Cumatrix owner Gert Peeters. "This will mean a positive development for our customers, us personally and not the least give us new possibilities to grow in Belgium with the support of the entire NCAB Group."

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