from left to right: Giuseppina Zoccali and Marco Frazzica (De Berti Jacchia), Yuri Zugolaro (Pirola Pennuto Zei & Associati) and Mario Morazzoni (Pirola Corporate Finance S.p.A.)
Milan / Bassano del Grappa, July 22, 2024 – NCAB Group Italy S.r.l. has signed the agreement for the acquisition of DVS S.r.l. in Italy and DVS Pacific Limited in Hong Kong. The purchase price amounts to approximately 200 million Swedish crowns, with a potential additional earnout of about 45 million Swedish crowns. The acquisition is expected to have a positive impact on NCAB Group’s earnings for 2025, with synergies in the areas of suppliers, payment terms, and logistics.
Founded in 1993, the Swedish NCAB Group is a world leader in the production of printed circuit boards (PCBs) and is listed on the NASDAQ Stockholm. DVS S.r.l. was founded in 2003 and has its main office in Bassano del Grappa, Italy, as well as offices in Switzerland and Hong Kong. Annual revenue amounts to approximately 240 million Swedish crowns. Sales are primarily directed towards Italian customers in the industrial and automotive sectors.
The buyers were assisted by De Berti Jacchia law firm with partner Marco Frazzica and senior associate Giuseppina Zoccali, supported by associate Matteo Bilei, while regulatory and FDI aspects were handled by partner Antonella Terranova, together with associate Ilaria Sgrilli; labor law aspects were followed by partner Gaspare Roma and associate Isabella Basilico.
PwC TLS assisted the buyers with tax aspects of the transaction with a team composed of partner Simone Marchiò and senior manager Mariangela Cottali.
Pirola Pennuto Zei & Associati assisted the sellers, with a team led by partner Yuri Zugolaro, supported, for all tax aspects of the transaction, by partner Marco Michielon and counsel Daniela Gobbo, while associate partner Lorenzo Destro, counsel Davide Rubino, and senior associate Lavinia Fanan followed the legal aspects.
Pirola Corporate Finance S.p.A. assisted the seller with financial aspects and the structuring of the transaction with a team composed of founding partner Mario Morazzoni, director Stefano Righetti, analyst Antonio Visioli, and junior analyst Pasquale Alessandro.
IN THE PRESS
DealFlower – Ncab Group Italy, intesa per acquisire Dvs in Italia e Dvs Pacific Limited a Hong Kong