The ICAPE Group (ALICA.PA), a global distributor of printed circuit boards (PCB) and custom electromechanical parts, has signed an agreement to acquire 100% of the capital of Japan-based NTW Group, a specialist in PCB distribution across Asia. The acquisition is subject to standard closing conditions and is expected to be completed on September 19, 2024.

Founded in 2002, NTW Group is a Japanese supplier offering high-value expertise in PCB distribution, with a business model similar to that of ICAPE Group. The company operates through seven subsidiaries located near key global PCB production centers in Japan, China, and Southeast Asia. NTW’s 40 employees serve a diverse customer base of major Japanese firms across industries such as office automation, communications, and infrastructure. NTW expects to generate over $20 million in revenue in 2024.

This acquisition enhances ICAPE Group’s leadership in the Asian market by integrating a well-established local player. The deal is expected to generate significant synergies in purchasing and marketing, giving ICAPE access to major Japanese clients that were previously outside its portfolio. Additionally, NTW will benefit from ICAPE’s global logistics platform, expanding its services and product offerings to drive profitable growth.

Yann Duigou, CEO of ICAPE Group, said: “Acquiring NTW is a strategic milestone for us. It strengthens our position in Japan, a mature and culturally unique market that’s traditionally difficult for Western companies to penetrate. NTW’s management will help guide the integration, ensuring that we unlock synergies between the two companies. This deal also opens doors to major Japanese corporations and new suppliers in China and Southeast Asia. With this acquisition, alongside recent deals, we’re on track to add an additional €45 million in revenue by 2026.”

Takashi Yasuda, Founder and CEO of NTW Group, added: “We are proud to join forces with ICAPE Group. This partnership gives us access to a global infrastructure, creating synergies that will allow us to expand our product range and provide enhanced services to our customers.”

The acquisition, financed in cash, will be consolidated into ICAPE Group’s financials from the fourth quarter of 2024. Assuming the closing conditions are met, the deal is expected to finalize on September 19, 2024.