AQ Group AB’s acquisition of Trafotek is completed
AQ Group AB has today June 3, 2019, after approval from the competition authorities in Finland and Estonia, closed the deal with Intera Partners Oy to acquire 100% of the shares of LTI Holding Oy with the subsidiary Trafotek Oy (“Trafotek”) in Finland and its subsidiaries Trafotek AS in Estonia, Trafotek Suzhou Co., Ltd. In China and Trafotek Power Eletronicos e Transformadores in Brazil.
Together with AQ companies in the same field, Trafotek will be part of the business area AQ Inductive Components under the leadership of Petteri Saarinen, Managing Director of Trafotek. This business area will be a strong supplier in the market, delivering to customers that provide electrification solutions to the marine, rail, industry and renewables sectors.
“Solutions based on electricity will grow in importance and we look forward to be part of this development with our new and stronger business area for inductive components. Both Trafotek and AQ has a long track record with demanding industrial customers and we will now have engineering and manufacturing presence in most major geographies in the world.” says Anders Carlsson,CEO for AQ Group.
For further information, please contact:
Anders Carlsson, CEO, +46 70 513 42 99
AQ Group is required to make the information in this press release public in accordance with the Securities Markets Act. The information was released by CEO Anders Carlsson for publication at 10:30 hours CEST on June 3, 2019.
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, provides cost effective solutions in close cooperation with the customer.
The Group headquarter is in Västerås, Sweden. AQ has, on December 31, 2018, in total about 6,100 employees in Sweden, Bulgaria, China, Estonia, Hungary, India, Italy, Lithuania, Mexico, Poland, Serbia, Finland, Canada and USA.
In 2018 AQ had net sales of SEK 4.7 billion and the group has since its start in 1994 shown profit every quarter.