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Electronics Production |
AQ Lasertool Oü acquires Sertec Engineering Estonia Oü
AQ Lasertool Oü has today signed an agreement with Sertec Engineering Estonia Oü to acquire the business assets of the company as a consequence of the letter of intent communicated on June 18.
The purchase price is EUR 1.1 million and the transaction will be made as a cash transaction. The operations is taken over today and will continue in the current location in Juri, Estonia.
Sertec Engineering Estonia Oü is a supplier of sheet metal component and assemblies for automotive and commercial vehicles. The company has net sales of about EUR 5 million and employs 60 people.
"The acquisition is made to broaden AQ Lasertool’s capabilities in sheet metal production and to gain competence and capacity for customers in the automotive industry. AQ Lasertool with operations in Pärnu, Viimsi and Juri will become an important player to demanding customers" says Claes Mellgren, CEO of AQ Group.
