#Israel #Silicon Valley #Migdal Haemek #PCB Technologies #Gorilla Circuits

PCB Technologies Acquires Gorilla Circuits to Strengthen US Manufacturing

Introduction
In a bold move to bolster its presence in the North American market, PCB Technologies (TASE: PCBT) has entered into a definitive agreement to acquire Gorilla Circuits, a respected provider of PCB fabrication and electronic card assembly services located in Silicon Valley. The acquisition, valued at USD 120 million, aims to establish a solid manufacturing base in the United States and expand PCB Technologies’ footprint in key markets including technology, aerospace, and defense.

Strategic Significance of Acquisition

The decision to acquire Gorilla Circuits marks a pivotal moment for PCB Technologies. With over 20 years of experience in the industry, Gorilla Circuits has become an integral part of the Silicon Valley electronics ecosystem, specializing in rapid production runs and offering services to over 700 active clients across various sectors. This acquisition allows PCB Technologies to deepen its market penetration and leverage Gorilla's existing customer relationships.

Establishing a Manufacturing Hub

By incorporating Gorilla Circuits into its operations, PCB Technologies can utilize a local production base strategically located in Silicon Valley. This enables the company to participate in substantial US contracts that require onshore manufacturing, effectively reducing lead times and enhancing responsiveness to customer needs. Gorilla's expertise complements PCB Technologies' advanced manufacturing capabilities, particularly in high-mix, low-volume production runs essential for the fast-paced tech and defense sectors.

Diversified Growth Opportunities

The integration of Gorilla Circuits is set to unlock significant growth potential for both companies. PCB Technologies plans to enhance the product offerings of Gorilla, introducing advanced PCB substrates and microelectronics that cater to contemporary market demands. The synergy between the two companies aims to create comprehensive solutions for clients, fostering innovation in areas such as integrated circuit packaging and thermal management.

Financial Overview of Gorilla Circuits

Gorilla Circuits has consistently demonstrated strong financial growth, underpinned by an impressive order pipeline.

• - Revenue Trends: Revenue escalated from USD 69.4 million in the fiscal year 2024 to USD 91.9 million in 2025, with recorded revenue of USD 54.9 million for the first half of 2026.
• - Profitability Metrics: The company's adjusted EBITDA surged from USD 3.0 million in 2024 to USD 13.6 million in 2025, demonstrating robust operational efficiency.
• - Order Velocity: With an order run rate projected at approximately USD 131 million in 2026, Gorilla Circuits maintains a healthy backlog of orders, positioning both companies for sustained growth following the merger.

Leadership Insights

PCB Technologies' CEO, Oved Shapira, highlighted the transformational nature of this acquisition. According to Shapira, the merger allows PCB Technologies to enhance its technological offerings while expanding its manufacturing capabilities in the US. He emphasized that this partnership would provide an opportunity to provide a wider array of solutions to Gorilla’s existing customers.

Conversely, Gorilla Circuits' President, Mario Borjon, expressed enthusiasm about the merger, citing the duo’s combined strengths to pursue more extensive and complex customer programs. He emphasized the innovative technologies that will emerge from this collaboration, enhancing the service and quality customers have come to expect from Gorilla Circuits.

Conclusion

The transaction between PCB Technologies and Gorilla Circuits symbolizes a strategic stride towards establishing a robust manufacturing and technological presence in the United States. As PCB Technologies aligns itself with Gorilla’s capabilities, it stands poised to expand its market reach and offer innovative solutions across various sectors, particularly in semiconductor testing, technology advancements, and aerospace defense. The acquisition is anticipated to be finalized within the next eight months, pending necessary regulatory approvals, paving the way for a dynamic partnership in the electronics manufacturing industry.

For further updates, visit PCB Technologies' website.