AQ Group

AQ Group has on December 20, 2024, reached an agreement with Lafayette Mittelstand Capital (https://www.lafayettemittelstandcapital.com/) to acquire mdexx inductive electronics GmbH, mdexx Magnetronic Devices GmbH, mdexx Magnetronic Devices s.r.o. and Michael Riedel, Transformatorenbau GmbH. The enterprise value is appr. 5 x EBITDA for fiscal year 2023 on a cash and debt free basis. Closing is expected in the first quarter 2025 pending governmental approvals.

mdexx (https://www.mdexx.com/en/) is a leading supplier in design and manufacturing of specialized inductive components such as reactors, transformers and filters in the low to medium power and frequency range. The customers are demanding industrial customers within electrical automation, medical technology and railway. mdexx has manufacturing in Czech Republic and sales and design engineers in Germany, Czech rep., and France.  The turnover in 2023 was EUR 47 m and the EBITDA margin was 4%. Film from mdexx (https://youtu.be/wCUDy6lal-8?si=7Q13lL8bLgGaXJ50).

Michael Riedel, Transformatorenbau (https://cms.riedel-trafobau.de/) is a leading supplier in the design and manufacturing of custom-made transformers, reactors and filters in the small to medium power range. The customers are demanding industrial customers, and the company is situated in Ilshofen, Germany. The turnover in 2023 was EUR 17 m and the EBITDA margin was 8%. 

"The purpose of this acquisition is to extend AQ's customer base and broaden our technology and market presence in inductive components. mdexx and Michael Riedel have more than 60 years' experience of working with demanding industrial customers and these companies complement AQ's business area inductive components in a very good way. This deal continues AQ's strategy to become the number one company globally for custom inductive components for demanding industrial customers. We believe that mdexx and Michael Riedel fits very well into the AQ business model, and we see many synergies in production, purchasing and in the market. We gladly welcome our 400 new colleagues in mdexx and Michael Riedel into AQ Group" says James Ahrgren CEO of AQ Group.

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For further information, please contact:
CEO and IR, James Ahrgren, tel. +46 76 052 58 88 or CFO, Christina Hegg, tel. +46 70 318 92 48

The information was released by James Ahrgren for publication at 15:00 CET on December 20, 2024.

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AQ is a global manufacturer of components and systems 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 8,000 employees in Bulgaria, Poland, Lithuania, Sweden, China, Estonia, Hungary, Mexico, Finland, India, Canada, USA, Germany, Italy, Brazil, and Great Britain. In 2023 AQ had net sales of SEK 9 billion, and the Group has since its start in 1994 shown profit every quarter.

www.aqgroup.com