PCB Technologies buys Silicon Valley's Gorilla Circuits for $120M
What's the deal? Israel's PCB TechnologiesDealroom has a profile for this one. Try Dealroom → has agreed to acquire 100% of American printed circuit board and electronic packaging maker Gorilla CircuitsDealroom has a profile for this one. Try Dealroom → at an enterprise value of $120 million. The Migdal HaEmek-based company disclosed the agreement to the Tel Aviv Stock Exchange.
What's the endgame? The deal gives PCB a direct manufacturing footprint in Silicon Valley and accelerates its push into the US defense and aerospace market. PCB said onshore US manufacturing is a prerequisite for many defense programs, and it plans to add advanced capabilities at the San Jose site, such as electronic systems miniaturisation.
Who is Gorilla Circuits? Operating for more than two decades out of San Jose, California, it employs over 320 people and serves more than 700 active customers. It specialises in low-volume production, prototype development, and quick-turn delivery; defense and aerospace made up about 40% of sales in the first half of 2026, alongside semiconductors, medical devices, robotics, and energy.
By the numbers: Gorilla Circuits' revenue rose from about $54.9 million in 2024 to roughly $91.9 million in 2025, reaching $69.4 million in the first half of 2026. Order intake hit $88 million in the first eight months of the year, with a backlog of about $38 million at the end of August.
On the terms: PCB will fund the payment through credit facilities from two Israeli banks. It will deposit $6 million into escrow within 60 days as liquidated damages if the deal fails, and hold $7.3 million for up to 18 months for indemnification.
What could go wrong? Closing hinges on clearance from the Committee on Foreign Investment in the United States, which reviews foreign acquisitions on national security grounds. The deal is slated to complete within five months, extendable to eight if regulatory approvals take longer.
The signal: The acquisition pairs PCB's Israeli engineering base with California manufacturing to capitalise on rising US procurement budgets. For a foreign buyer, owning onshore production is increasingly the price of entry into defense supply chains.
Read more: israeldefense.co.il
Image credit: Rubber Dragon
