AQ Group acquires Mecanova

AQ Group AB has on April 3, 2018 signed an agreement to acquire 100% of the shares of Mecanova Oy (http://www.mecanova.com) in Nivala, Finland with the subsidiary Mecanova Oü in Pärnu, Estonia. The purchase price for the shares is EUR 1.1 million. The takeover will take place today.

Mecanova group is a supplier of sheet metal and copper components for demanding industrial customers. The company has net sales of about EUR 17 million and employs about 160 people.

"The purpose of the acquisition is to extend AQ’s customer base, to broaden our offering in sheet metal processing and copper component manufacturing and to obtain synergies with our current factory in Pärnu. Mecanova has a long history and the company fits well in AQ and it gives us presence in Finland.”, says Claes Mellgren, CEO of AQ Group

“In Mecanova we see the deal as an enhanced opportunity for continued development of our units and an offensive way to meet the future. We look positively to being part of a financially strong international group as it brings increased opportunities to broadening and enhancing our offering to the customers and thereby strengthening our competitiveness”, says Jukka Koponen, CEO of Mecanova group.

För further information contact:

CEO, Claes Mellgren, telephone, +46 70 592 83 38

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AQ in brief

AQ is a leading supplier to demanding industrial customers and is listed on Nasdaq Stockholm’s main market.

The Group consists mainly 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.

The Group headquarter is in Västerås, Sweden. AQ has, on December 31, 2017, in total about 5,100 employees in Sweden, Bulgaria, China, Estonia, Hungary, India, Italy, Lithuania, Mexico, Poland, Serbia and Thailand.

In 2017 AQ had net sales of SEK 4.0 billion and the group has since its start in 1994 shown profit every quarter.

AQ has the highest credit rating AAA according to Bisnode.

www.aqg.se

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