Acquires Anton Kft. in Hungary
AQ Group AB has today signed an agreement to acquire 100% of the shares of Anton Kft. (http://www.anton.hu) in Zalaegerszeg, Hungary. The purchase price is EUR 25 million and the transaction will be made as a cash transaction, partly financed with a SEK 150 million bank loan. Anton Kft. has no interest-bearing credits and has an equity ratio of 73%. The takeover will take place today.
Anton Kft. is a leading supplier in part machining for large industrial gas turbines (IGT), in production of complex injection moulding parts and in engineering and production of tools. The company has net sales of about EUR 25 million and is expected to significantly contribute to the earnings per share of AQ Group. Goodwill and other intangible assets from the acquisition are valued at around EUR 7 million.
Anton Kft. employs about 400 people and owns real estate with about 10,000 m2of production space. Among the customers are Bosch, General Electric and Siemens.
"The acquisition is made to gain competence and capabilities in the advanced machining of parts for demanding customers and to broaden AQ Group’s market and production technology in injection moulding and engineering of tools. We are very excited to invest in this well managed company" says Claes Mellgren, CEO of AQ Group.
For further information contact:
CEO Claes Mellgren +46 (0)70-592 83 38
Chairman P-O Andersson +46 (0)70-526 90 77
AQ is a leading supplier to demanding industrial customers and is listed on AktieTorget.
The Group consists of operating companies each of which develop their special skills and in cooperation with other companies, striving to provide cost effective solutions in close cooperation with the customer.
AQ has about 4,000 employees in in Sweden, Bulgaria, China, Estonia, India, Italy, Lithuania, Mexico, Poland and Thailand.
In 2014 AQ had net sales of 2.6 billion SEK.
AQ has the highest credit rating, AAA.