Cistelaier

What Cistelaier does

Cistelaier S.p.A. is an Italian printed circuit board (PCB) manufacturer founded in 1976 and headquartered in Modena, with a second production plant in Genoa and a workforce of more than 160 people. The company operates within the PCB Division of the Finmasi Group alongside Techci Rhône-Alpes SA (France) and EPN Electroprint GmbH (Germany). Cistelaier produces a broad portfolio of high-reliability PCBs — HDI Sequential Build Up, multilayer, double-sided, flexible and rigid-flex, high power/heavy copper, RF and microwave, IMS, and special configurations — built from over 100 validated base materials and a 24-step manufacturing process monitored by an in-house laboratory running Statistical Process Control on more than 60 process variables.

The company serves seven accredited end markets: aerospace and defense, space and new space, automotive, industrial automation, medical devices, railway, and renewables, holding the sector-specific certifications required to operate in each (EN9100D, IATF 16949, EN ISO 13485, NADCAP). In October 2024, Cistelaier obtained ESA qualification for sequential rigid polyimide and rigid-flex polyimide PCBs to ECSS-Q-ST-70-60C, making it the first and only Italian PCB manufacturer so qualified and one of four in Europe. Revenue is generated through project-based custom PCB orders, complemented by co-design, prototyping, quick-turnaround (QTA), and laboratory certification services.

Cistelaier sells to enterprise customers via a direct field-sales organization with regional Area Sales Managers in Italy and a Regional Sales Manager covering Northern, Central and Eastern Europe, supported by a Customer Care Manager. Pricing is quote-based and not publicly disclosed; commercial activity is reinforced by an active trade-show calendar spanning Eurosatory, DSEI, IDEF, Space Tech Expo, Embedded World, Electronica, MECSPE, Paris Space Week, EMPS, and SIAE, and a multilingual (Italian, English, German) website.

Name

Cistelaier

Legal name

Cistelaier S.p.A.

Website

https://cistelaier.it

Company type

Private

Founded year

1976

Operating status

Operating

Headcount range

51–100 employees

Short description

Cistelaier S.p.A. is an Italian manufacturer of high-reliability printed circuit boards (HDI, multilayer, flex, rigid-flex, RF, heavy copper, IMS) for aerospace, defense, space, automotive, medical, railway, and industrial customers, operating two plants in Italy with 160+ employees.

Ownership category

akta.pro rank

Product category

Printed Circuit Board Manufacturing

NAICS

Bare Printed Circuit Board Manufacturing (334412)

SIC

Printed Circuit Boards (3672)

akta.pro primary industry

PCB Fabrication (Rigid PCBs) (HDAHAOAG)

akta.pro secondary industries

PCB Fabrication (Flex & Rigid-Flex PCBs) (HDAHAOAH), PCB Materials & Laminates (Copper Clad, Prepreg, Cores) (HDAHAOAJ)

Keywords

• Printed circuit boards
• PCB manufacturing
• High-reliability electronics
• Aerospace defense PCBs
• Rigid-flex circuits

Headquarters

HQ city

Modena

HQ country

Italy

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. PCB Manufacturing: Custom printed circuit board manufacturing for industrial applications. One-time purchase model with project-based pricing based on specifications, materials, technology complexity, and volume.
2. Co-design Services: Engineering support and collaborative design services to optimize PCB design for manufacturing and performance
3. Lab Analysis & Product Certification: Laboratory testing and certification services for product validation and compliance
4. Prototyping Services: Quick turnaround prototype PCBs for development and testing
5. Quick Turnaround (QTA): Express production service for rapid delivery from prototype to series volumes

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

Cistelaier manufactures custom high-reliability printed circuit boards (PCBs) across eight product typologies — HDI Sequential Build-Up, double-sided, multilayer, flexible, rigid-flex, high-power/heavy copper, RF/microwave, and insulated metal substrate (IMS) — at two Italian plants in Modena and Genoa. The company complements manufacturing with co-design engineering support, in-house laboratory analysis and product certification, prototyping, and a Quick Turnaround (QTA) rapid-delivery service, serving aerospace, defense, space, automotive, industrial automation, medical devices, railway, and renewables customers.

Product overview

Cistelaier is an Italian manufacturer of printed circuit boards (PCBs) established in 1976, operating two manufacturing facilities in Italy (Modena and Genoa). The company offers a comprehensive portfolio of PCB products organized by typology: HDI Sequential Build Up (SBU), Double-Sided, Multilayer, Flexible and Flex-Rigid, High Power/Heavy Copper, RF and Microwave, Insulated Metal Substrate (IMS), and Special PCBs. Supporting the core manufacturing, Cistelaier provides technology capabilities including vias technologies, power/heat management, controlled impedance, surface finishes (HASL, ENIG, Immersion Tin, Immersion Silver, OSP, Hard Gold, ENEPIG, Hot Oil Reflow), and solder mask/EMI shielding solutions. The company also delivers value-added services such as co-design, laboratory analysis and certification, quick turnaround (QTA) delivery, and prototyping. Cistelaier serves high-reliability markets including aerospace, defense, space, automotive, industrial automation, medical devices, railway, and renewables.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• First and only Italian ESA-qualified PCB manufacturer
• +2 more outcomes

Named customers8 records

Segments7 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature9 records

Partnerships

Three partnerships are on record, tiered core.

• European Space Agency (ESA)coreStrategic or Co-development Partner · 3 October 2024ESA granted qualification to Cistelaier for production of sequential rigid polyimide PCBs and rigid-flex polyimide PCBs according to PID_v05 in accordance with ECSS-Q-ST-70-60C standard. Cistelaier is first and only Italian ESA-qualified PCB manufacturer and one of four in Europe. Cistelaier submitted project within ESA General Technology Support Program for Phase B and Phase C of broader qualification expansion.
• Techci Rhône-Alpes SAcoreStrategic or Co-development PartnerPart of Finmasi Group PCB Division alongside Cistelaier and EPN. Companies co-exhibit at major industry events including Eurosatory, Focus on PCB, Paris Space Week, and other trade shows. Joint marketing and presence as European PCB manufacturing group.
• EPN Electroprint GmbHcoreStrategic or Co-development PartnerPart of Finmasi Group PCB Division alongside Cistelaier and Techci. Companies co-exhibit at major industry events including Focus on PCB and other trade shows. Joint marketing and presence as European PCB manufacturing group.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• TTM Technologies: US-headquartered, large-scale PCB manufacturer with significant aerospace & defense, medical and automotive exposure. Comparable in targeting high-reliability customers but with much broader geographic and product footprint.
• AT&S (Austria Technologie & Systemtechnik AG): Leading European PCB and IC substrate manufacturer with a strong high-reliability and automotive portfolio. Comparable in serving demanding end-markets from Europe but operates at substantially larger scale, including substrate manufacturing.
• Unimicron Technology Corp. Taiwanese global PCB and substrate manufacturer with broad product coverage including HDI and rigid-flex. Comparable technology categories but operates at scale well beyond Cistelaier and primarily serves mass-market consumer/communications customers.
• Würth Elektronik CBT (Printed Circuit Boards division): European PCB manufacturer operating as part of the Würth Group, serving industrial, automotive and aerospace customers with a broad technology portfolio. Comparable European footprint and reliability orientation but part of a much larger electronics components conglomerate.

Direct peers

• EPN Electroprint GmbH: German PCB manufacturer and sister company within Finmasi Group's PCB Division. Operates a comparable high-mix, high-reliability PCB model serving European industrial, automotive and aerospace customers, often co-exhibiting with Cistelaier at industry trade shows.
• NCAB Group: Sweden-based PCB sourcing and solutions provider serving European industrial customers with a focus on quality and reliability. Comparable customer base and European footprint, though NCAB is asset-light while Cistelaier operates its own fabs.
• Schweizer Electronic AG: German PCB manufacturer specializing in high-end, high-reliability boards for automotive, industrial and aerospace. Comparable in European high-reliability positioning, technology mix (including heavy copper and embedding) and customer orientation.
• Dyconex (Mektec Group): Swiss PCB manufacturer specializing in high-reliability flex, rigid-flex and HDI boards for medical, aerospace and industrial customers. Closely comparable in technology mix and high-reliability niche, particularly medical and aerospace.
• Techci Rhône-Alpes SA: French PCB manufacturer and the third member of Finmasi Group's PCB Division. Directly comparable product portfolio (multilayer, flex, rigid-flex, RF) and customer base focused on European aerospace, defense and industrial customers.

Emerging players

• Eltek Ltd. (Nistec Group): Israeli PCB manufacturer serving defense, aerospace, medical and industrial customers with high-reliability boards. Comparable in high-reliability niche and customer orientation, though smaller scale and geographically focused on Israel and US defense customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/cistelaier-spa

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cistelaier