Amphenol Agrees to Buy AdvancedPCB, Which Expects Sales of $270 Million

Key Facts

Industrial Growth Partners announced a definitive agreement to sell AdvancedPCB Holdings to Amphenol, adding a specialist supplier of high-reliability printed circuit boards to the U.S. group. IGP’s statement did not outline a strategic rationale for the deal, but described AdvancedPCB’s products as serving mission-critical applications in the defense, aerospace and industrial markets. The transaction is subject to U.S. regulatory approvals and customary closing conditions, according to IGP’s statement published via PR Newswire. Amphenol estimated AdvancedPCB’s sales at about $270 million in 2026. The company expects to complete the acquisition in the fourth quarter, then place AdvancedPCB in its Harsh Environment Solutions segment.

Founded in 1977, AdvancedPCB is headquartered in Aurora, Colorado. The company offers customers across the defense, aerospace and industrial sectors a range of printed circuit board technologies, according to IGP’s statement. It serves those markets through six facilities in the United States, making it a domestic supplier in sectors that rely on high-reliability applications. The statement describes those applications as mission-critical but provides no further details about the products or customers. It also did not disclose the deal’s value or financial terms.

IGP acquired AdvancedPCB in October 2021, alongside members of the management team and co-investors. The investment firm said it worked with AdvancedPCB’s management to grow the business organically and through several acquisitions. Its efforts included strengthening the company’s commercial and operational capabilities, according to the statement. It also invested in expanding manufacturing capacity, automation and assembly capabilities, and increased technical sales and engineering resources. The sale agreement comes about five years after IGP and its investors entered the company; the statement did not detail the acquisitions completed during that period or their financial impact.

The deal comes as Amphenol posted strong growth in the third quarter of 2026, with sales of $10.2 billion, up 65% in dollars and 37% organically from the same period in 2025. Chief Executive Officer Adam Norwitt said sales rose 65% from a year earlier, driven by strong organic growth in most of the end markets the company serves, alongside contributions from its acquisition program. He added that Amphenol recorded record quarterly orders, with a book-to-bill ratio of 1.19 to 1. Norwitt said, "The electronics revolution continues to accelerate, with new innovations creating exciting growth opportunities for Amphenol." He also noted that the company is expanding its technology products through innovation and acquisitions.

For the coming period, Amphenol said it expects fourth-quarter 2026 sales of between $10.3 billion and $10.5 billion, an increase of about 60% from the same quarter a year earlier. The guidance does not include the impact of acquisitions that have not yet closed, including AdvancedPCB. The company’s full-year outlook puts sales between $36.9 billion and $37.1 billion in 2026, also excluding AdvancedPCB and other pending acquisitions. The market is awaiting the next step in the deal during the fourth quarter, as closing depends on U.S. regulatory approvals and customary closing conditions. After closing, AdvancedPCB will operate within Amphenol’s Harsh Environment Solutions segment.