AQ Group acquires Anton Kft. in Hungary

The purchase price is EUR 25 million and the transaction will be made as a cash transaction, partly financed with a SEK 150 million bank loan. Anton Kft. is a supplier in part machining for large industrial gas turbines (IGT), in production of complex injection moulding parts and in engineering and production of tools. The company has net sales of about EUR 25 million. "The acquisition is made to gain competence and capabilities in the advanced machining of parts for demanding customers and to broaden AQ Group’s market and production technology in injection moulding and engineering of tools. We are very excited to invest in this well managed company" says Claes Mellgren, CEO of AQ Group. The company employs about 400 people and owns real estate with about 10'000 square meter of production space. Among the customers are Bosch, General Electric and Siemens.