Amphenol buys defense PCB maker AdvancedPCB in deal-heavy run
What's the deal? Industrial Growth Partners (IGP)Dealroom has a profile for this one. Try Dealroom → has agreed to sell AdvancedPCB to Amphenol Corporation, exiting a holding it acquired in October 2021. Financial terms were not disclosed. The deal is subject to US regulatory approvals and customary closing conditions.
What does AdvancedPCB do? Founded in 1977 and based in Aurora, Colorado, it makes high-reliability printed circuit boards (PCBs) for mission-critical defense, aerospace, and industrial uses. It operates six US facilities and is expected to generate roughly $270 million in sales in 2026.
Why now? AdvancedPCB has grown under IGP through organic investment and several add-on acquisitions, deepening its exposure to high-reliability end markets. "Their continued support has allowed us to invest in equipment, technology, and people at a time of growing demand," said chief executive officer Greg Halvorson.
The acquirer's playbook: Amphenol is running an unusually active acquisition program. Alongside AdvancedPCB, it announced deals for Dexgreen and Humanetics Sensors and recently closed Empire Electronics — four transactions together valued at about $1.6 billion.
The strategic fit: AdvancedPCB adds US-made, high-reliability boards for defense and industrial customers to Amphenol's electronics and interconnect portfolio. "Amphenol's reach across electronics and interconnect markets makes it well positioned to support AdvancedPCB's growth," said Eric Heglie, managing partner at IGP.
The signal: The sale fits a broader push to consolidate North American PCB capacity. One sector roundup counted five regional PCB deals in 2026 through July, versus three in all of 2025, as demand from defense primes and emerging defense-tech firms grows.
Read more: prnewswire.com
Image credit: Generated with Gemini
