Who Owns NCAB Group Company?

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Who Really Owns NCAB Group?

Unraveling the NCAB Group SWOT Analysis is just the beginning; understanding its ownership is key to grasping its strategic ambitions. From its 1993 founding in Sweden to its current global footprint, NCAB Group's journey has been marked by significant shifts in its ownership structure. Knowing who holds the reins of NCAB Group AB is crucial for any investor or stakeholder seeking to understand its potential.

This deep dive into NCAB ownership will examine the evolution of its shareholder base, from its IPO in June 2018 to the present day. We'll explore the influence of major shareholders, the impact of institutional investors, and the overall company structure. Understanding the NCAB company structure and its key players provides valuable insights into its market position and future prospects, including its stock information and financial reports.

The story of NCAB Group began in Sweden in 1993, founded by three experts. While the exact initial ownership breakdown isn't publicly available, the early days were marked by an entrepreneurial spirit focused on cost efficiency. The founders aimed to connect customers needing PCBs with a network of reliable manufacturers, mainly in China.

The company's initial vision centered on providing a crucial link between customers requiring PCBs and a network of carefully selected manufacturers, primarily in China. This approach ensured quality, delivery reliability, and cost-effectiveness. Details about early agreements like vesting schedules or buy-sell clauses are not disclosed in public records.

A significant ownership change occurred in 2007 when R12 became a major owner, indicating a substantial investment or buyout. This event likely played a role in the company's expansion beyond the Nordics. The company's growth strategy is further detailed in this article about the Growth Strategy of NCAB Group.

Key Takeaways on NCAB Group's Early Ownership

The initial ownership of NCAB Group involved three founders, but specific equity details are not public. The company's early focus was on connecting PCB customers with manufacturers, mainly in China. A major ownership shift happened in 2007 with R12, influencing the company's expansion.

• NCAB Group was founded in 1993 in Sweden.
• The early operations emphasized cost-efficiency.
• R12 became a major owner in 2007.
• The founders' vision was to link customers with manufacturers.

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The evolution of the NCAB Group's ownership structure has been marked by significant changes, especially after its Initial Public Offering (IPO) in June 2018. Initially, the free float, which represents the shares available to the public, stood at approximately 60%. Over time, pre-IPO owners have gradually divested their holdings, leading to an increase in the free float to 94%.

As of December 30, 2024, the company had a total of 5,373 shareholders. The top ten shareholders collectively held 53% of both the capital and votes within the company. Foreign ownership accounted for roughly 37%, indicating a diverse shareholder base.

Major institutional investors currently holding shares in NCAB Group include a variety of investment funds. Among the significant shareholders are Vanguard Total International Stock Index Fund Investor Shares (VGTSX), Vanguard Developed Markets Index Fund Admiral Shares (VTMGX), SMALLCAP WORLD FUND INC Class A (SMCWX), and iShares Core MSCI EAFE ETF (IEFA). These shifts in ownership, particularly the rise in free float and institutional involvement, likely influence the company's strategy and governance, incorporating a wider range of investor perspectives and increasing the focus on public market performance. For more insights into the business, consider reading about the Target Market of NCAB Group.

Key Takeaways on NCAB Group Ownership

The ownership of NCAB Group has evolved significantly since its IPO, with a substantial increase in the free float.

• The free float has increased to 94% due to the exit of pre-IPO owners.
• A diverse group of institutional investors holds significant stakes.
• The top ten shareholders control over half of the company's capital and votes.
• Foreign ownership constitutes approximately 37% of the total.

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As of the Annual General Meeting on May 8, 2025, the board of directors of NCAB Group AB consists of eight members. Christian Salamon continues to serve as Chairman of the Board, a position he has held since 2007. Other board members re-elected in 2025 include Sara Eccleston and Anders Lindqvist, both since 2024, along with Hans Ramel (since 2007), Gunilla Rudebjer, and Hans Ståhl. New additions to the board are Helen Blomqvist and Marlene Forsell.

The composition of the board reflects a mix of long-standing members and new appointees. Christian Salamon, through his wholly-owned company Gogoy AB, holds 3,902,350 shares. Hans Ramel, a partner at R12 Kapital AB, has been a board member since 2007. The ownership stakes of other board members are also disclosed, with Marlene Forsell holding 4,680 shares and Anders Lindqvist holding 1,600 shares. Helen Blomqvist holds 0 shares.

The voting structure at NCAB Group generally follows a one-share-one-vote principle. As of December 30, 2024, the ten largest shareholders collectively held 53% of both capital and votes. The board decided to withdraw the dividend proposal for the 2024 financial year ahead of the May 8, 2025, annual general meeting. For more information on the financial aspects, you can read about the Revenue Streams & Business Model of NCAB Group.

Key Takeaways on NCAB Group Ownership

The board of directors oversees the strategic direction of NCAB Group, with Christian Salamon as the long-standing Chairman.

• The ownership structure is transparent, with major shareholders and their holdings disclosed.
• The company's financial decisions, such as the dividend withdrawal, reflect a focus on financial stability.
• The voting rights are primarily based on share ownership, with no unusual arrangements.
• The board's composition includes a mix of experienced and new members.

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Over the past few years, the ownership structure of NCAB Group has evolved significantly, primarily driven by a strategy of growth through acquisitions. Since its initial public offering (IPO) in 2018, the company has completed a total of 18 bolt-on acquisitions. Recent acquisitions include DVS Pacific in October 2024, Ppas in September 2024, ICOM in July 2024, and Cumatrix in April 2024. Most recently, on June 3, 2025, NCAB closed the acquisition of B&B Leiterplattenservice GmbH in Germany.

The acquisition of B&B Leiterplattenservice GmbH, a company that reported net sales of approximately SEK 150 million in 2024, is anticipated to be earnings accretive for NCAB Group in 2025. Another noteworthy acquisition during July 2024 was DVS Global in Italy, with a purchase price of SEK 200 million and a potential earnout of SEK 45 million. These strategic moves reflect NCAB Group's commitment to expanding its market presence and capabilities within the printed circuit board (PCB) industry. These acquisitions have reshaped the NCAB ownership profile.

The industry trend for PCB suppliers like NCAB Group often involves increased institutional ownership. The company's asset-light business model, which relies on sourcing PCBs from a network of manufacturers, contributes to its strong cash flows and attractiveness to investors. Peter Kruk currently serves as the President and CEO of NCAB Group. For the first quarter of 2025, NCAB Group reported net sales of SEK 958.3 million, marking a 1% increase year-on-year, and an EBITA of SEK 100.0 million. Further insights into the company's performance and strategy can be found in the 2024 annual and sustainability report, published on April 8, 2025.

NCAB Group Acquisitions

NCAB Group's growth strategy includes strategic acquisitions to expand its market presence and capabilities. The company has completed several acquisitions in 2024 and 2025.

Ownership Trends

NCAB Group's ownership structure is influenced by its IPO and subsequent acquisitions. The company has a significant institutional shareholder base.

Financial Performance

For Q1 2025, NCAB Group reported net sales of SEK 958.3 million and an EBITA of SEK 100.0 million. The company is focused on maintaining financial flexibility.

Leadership and Strategy

Peter Kruk is the President and CEO of NCAB Group. The company's strategy is detailed in its annual reports, which provide insights into its performance and ongoing strategy.

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