NCAB Acquires Board Shark PCB to Expand U.S. Presence

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NCAB, a supplier of printed circuit boards (PCBs) with operations across Europe, Asia, and North America, has acquired 100 percent of the shares of Board Shark LLC, based in Florida, USA. In 2025, Board Shark generated net sales of approximately USD 17 million with an EBITA margin exceeding that of NCAB. 

Founded in 2016 by Carl and Rachelle Moehring, Board Shark has a team of five employees and a network of regional sales representatives. The company has a market position in the western United States, complementing NCAB's presence in the region. Its customer base includes companies in the aerospace, industrial, and medical sectors, and it specializes in quick-turn PCB deliveries.

The acquisition is expected to contribute positively to NCAB Group's earnings in 2026. The company expects synergies in supplier relationships, payment terms, logistics, and cross-selling opportunities, including prototyping services.

The upfront purchase price, on a cash and debt-free basis, is USD 15 million. The transaction also includes an earn-out of up to USD 11 million based on financial performance during the next 24 months.

Peter Kruk, CEO of NCAB Group, said: “Board Shark’s development over the past few years has been impressive. The company demonstrates strong execution capabilities and has deep customer relationships. Its business model is closely aligned with that of NCAB, and Board Shark holds a solid market position on the US west coast with promising opportunities for further growth.”

Carl and Rachelle Moehring, former owners of Board Shark PCB, said: “NCAB’s acquisition is a natural next step for the evolution of Board Shark PCB. Becoming a part of NCAB expands our ability to bring world-class global support and optionality to our customers while allowing our team to increase focus to what we love most – working with customers to solve their printed circuit board needs. We are excited about our future with the NCAB family.”

Click here to learn more about the NCAB Group.