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© pichetw dreamstime.com Electronics Production | May 09, 2018

AQ Group acquires B3CG Interconnect

Swedish AQ Group AB, announces that it has signed an agreement to acquire 100% or the shares of B3CG Interconnect Inc. and its affiliate B3CG Interconnect USA Inc.
The purchase price consists of CAD 13.6 million (EUR 8.87 million) plus an earnout over two years with a maximum of CAD 6 million (EUR 3.91 million). B3CG is a supplier of complex electrical harnesses, high voltage cables, and electromechanical assemblies for various industries, a press release from AQ reads.

The two acquired companies have a total net sales of about CAD 35 million (EUR 22.8 million) with a profit margin in line with AQ. They employ about 300 people at their operations in Saint Eustache, Quebec, Canada and in Plattsburgh, New York, USA.

"We are very excited about entering Canada and U.S.A. B3CG has a long history with experienced management and the company fits well in AQ and our business area Wiring Systems. We have visited their biggest customers and received very good feedback so we are very happy about this acquisition" says Claes Mellgren, CEO of AQ Group.

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September 21 2018 11:51 am V11.0.0-1