Afinum Neunte Beteiligungsgesellschaft mbH & Co. KG, advised by Afinum Management GmbH, indirectly acquires a majority stake in GS Swiss PCB AG, a leading manufacturer of highly miniaturized printed circuit boards (PCBs) from the exceet Group. Afinum invests jointly with funds advised by SwanCap Investment Management S.A. and with the management team.

GS Swiss PCB has been founded in 1981. ~180 employees operate from one centralized manufacturing site in Küssnacht am Rigi in Switzerland and one sales office in the US. Before the transaction GS Swiss PCB has been part of the exceet Group.

GS Swiss PCB manufactures extremely reliable, highly miniaturized HDI flex, rigid-flex and rigid printed circuit boards with a market-leading position in the medical industry for small to medium volumes. GS Swiss PCB is focused on applications with highest reliability requirements such as for example implantable defibrillators or hearing aids. The combination of the highly experienced team, the technological know-how as well as the process and system quality form the foundation of the success of GS Swiss PCB.

Together with the management team Afinum is going to support the continuation of the successful historical growth trajectory by further strengthening the market position especially within medical applications. The ongoing geographical expansion as well as the development of new verticals is expected to further fuel future growth. The continued investment into the development of the production technology is considered to be a key enabler of the future growth journey.

The investment in GS Swiss PCB represents the second platform investment of Afinum Neunte Beteiligungsgesellschaft mbH & Co. KG, starting its investment period in early October 2021.