AQ Group AB’s acquisition of Gerdins Industrial System AB is completed
AQ Group AB has today October 3, 2016, after approval from the Swedish Competition Authority, completed the deal with Gerdins Holding AB to acquire 100% of the shares of Gerdins Industrial System AB with the subsidiaries Gerdins Components Västerås AB, Elektroprim AB, Plåxan AB, Gerdins Components AB, Gerdins Cable Systems AB, Gerdins Cable Systems Sp. z.o.o and Gerdins Nordkomponent AB. The purchase price consists of SEK 81.5 million in cash plus 260 000 shares of AQ Group and an earnout which can be expected to be about SEK 12 million, based on 50% of profit after tax for 2016. Possession will be today.
For further information contact:
CEO Claes Mellgren +46 (0)70-592 83 38
Chairman P-O Andersson +46 (0)70-526 90 77
AQ Group is required to make the information in this press release public in accordance with the Market Abuse Regulation. The information was released by CEO Claes Mellgren for publication at 12:00 noon on October 3, 2016.
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 after the acquisition about 4,900 employees in in Sweden, Bulgaria, China, Estonia, Hungary, India, Italy, Lithuania, Mexico, Poland, Serbia and Thailand. In 2015 AQ had net sales of about 2.9 billion SEK.
AQ has the highest credit rating, AAA.