Bates Wells advises ICAPE Holding on the acquisition of Kingfisher PCBS Ltd

Bates Wells has advised ICAPE Holding on their second acquisition in as many months, of Kingfisher PCBS Ltd, a company which is at the forefront of the supply of printed circuit boards (PCBs).

Founded in 1999, the ICAPE Group acts as a key technological expert in the PCB and technical parts supply chain. With a global network of 40 subsidiaries, the Group is a one-stop-shop provider for the products and services which are essentials for customers. As of December 31, 2024, the ICAPE Group recorded a consolidated revenue of €181.6 million.

Kingfisher is a company created in 2019 by Victor Sproat, a British PCB specialist for over 35 years. This distributor serves a wide range of industries, including aerospace, telecommunications, automotive and energy.

The acquisition demonstrates ICAPE’s resilience of its development model throughout 2024, in a challenging market environment completing the structure of their Business Unit in the United Kingdom, one of the main European PCB distribution markets.

The team that worked on the transaction included, Nirav Patel, Corporate Partner, Lucille Moala, Corporate Associate, Jasmine Sudworth, Employment Associate, and David Bell, Corporate Trainee Solicitor.

Nirav Patel, who led the Bates Wells’ team commented on the acquisition saying:

“It has been a pleasure to have assisted Shora, Cyril, Antoine and the ICAPE team with this transaction which demonstrates ICAPE’s continued resilience and effective growth strategy in what has otherwise been a challenging PCB market.”

Shora Rokni, Chief Strategy Officer of ICAPE commented:

“Throughout the acquisition process, ICAPE Group greatly benefited from the expertise and dedication of the Bates Wells team. Nirav Patel, Lucille Moala, David Bell, and Jasmine Sudworth played a key role in ensuring a smooth and efficient transaction, providing strategic legal guidance tailored to ICAPE’s expansion goals. Their deep understanding of the market and proactive approach were invaluable in navigating the complexities of the deal. This collaboration underscores Bates Wells’ commitment to supporting dynamic, growth-oriented businesses like ICAPE in achieving their strategic objectives.”