Gerdins wired for growth with sale to AQ Group
Listed industrial group AQ Group is acquiring Gerdins Industrial Systems from the Gerdin family. Gerdins’ operations are established in Sweden and Poland, with customers all over the world. The company is a leading supplier of complete solutions in mechanical engineering, cable systems and advanced industrial systems.
Livingstone’s Industrial sector team has advised the shareholders of Gerdins Industrial Systems on its sale to AQ Group. Gerdins provides high-quality products and services in mechanical engineering and cabling systems to exacting industrial clients.in the energy, infrastructure, industrial/automation and heavy vehicles sectors all over the world. The company, which has sales of approximately SEK 430 million and some 450 employees operates from facilities in Mjällom, Västerås and Sollefteå, in Sweden, and in Starogard in Poland.
“We regard this deal as an enhanced opportunity to continue the sound development of our units and as a proactive move into the future. We welcome becoming part of an international group as this will bring expanded opportunities to broaden and improve our customer offering and our competitiveness,” says Peter Gerdin, Group CEO at Gerdins Holding.
AQ is a leading supplier of systems and components, including electric cabinets, industive components and wiring systems to exacting industrial clients, with some 4,700 employees in Sweden and in ten other countries in Europe, Asia and North America. The company is listed on AktieTorget and has sales of SEK 2.9 billion.
“This deal will expand AQ’s customer base and broaden our offering in metals processing and strengthen our position in cable manufacturing. Gerdins has a long history of strategic industrial ownership and the company fits in well with AQ,” says Claes Mellgren, Group CEO at AQ.
“Gerdins aimed to find an owner with the capital and expertise to further develop the business. We are pleased that we could find a good match in AQ, which now places Gerdins in a more international context and strengthens the operations with low-cost production and an expanded offering,” says Kenneth Westlund, Partner at Livingstone.