The Amber Group, a prominent home-grown manufacturing firm and diversified B2B electronic manufacturing services (EMS) company, has finalized definitive agreements to acquire a 60% stake in Ascent Circuits Pvt Ltd. The acquisition was facilitated through ILJIN Electronics, a subsidiary of the Amber Group.
Ascent Circuits specializes in the manufacturing of Printed Circuit Boards (PCBs), including single-sided, double-sided, multi-layered, and RF PCBs. The company caters to renowned clients such as ISRO, BEL, BHEL, automotive, telecom, and both multinational and domestic consumer electronics firms. Its products find applications in diverse sectors like aerospace & defense, medical, energy solutions, automotive, telecom, data centers, consumer electronics, IT, and lighting. Additionally, Ascent Circuits exports its products to global markets.
The acquisition aligns with Amber Group’s strategy to bolster its EMS portfolio by enhancing local value addition and backward integration into the passive components of PCB assemblies. The move is in harmony with the Indian government’s ‘Make in India’ and ‘Atmanirbhar Bharat’ initiatives, focusing on strengthening domestic manufacturing capabilities. The acquisition also aims to reinforce the group’s presence in the electronics (EMS) sector, targeting applications such as aerospace & defense, medical, telecom, consumer electronics, and automotive.
Amber Group intends to further expand its electronics (EMS) portfolio by enhancing its research and development (R&D) capabilities and manufacturing capacities for Printed Circuit Board Assemblies (PCBAs) through the backward integration of Bare PCB Boards. This strategic positioning is expected to elevate Amber Group as a leading player in the electronics EMS space, leveraging the anticipated double-digit growth of the sector in FY25 and beyond.
The Amber Group operates across three primary business verticals, encompassing consumer durables, EMS, and railway subsystems and mobility. The consumer durables vertical includes finished goods and components for room air conditioners (RACs), while the EMS business (comprising ILJIN Electronics & EVER Electronics) offers solutions in telecom, automotive, smart energy meters, consumer electronics, appliances, hearables, and wearables. The group also holds a significant presence in railway subsystems & mobility.
The acquisition of Ascent Circuits Pvt Ltd marks a significant stride for the Amber Group as it continues to strengthen its position in the electronics manufacturing sector, aligning with the evolving landscape of the Indian and global markets.
