AQ Group

M&A Activity • Apr 15, 2024

AQ Group finalizes the acquisition of JIT Mech

AQ Group AB signed on March 11, 2024, an agreement to acquire 100% of the shares in JIT Mech se Industri AB with the subsidiaries JIT Mech i Robertsfors AB and JIT Mech i Örnsköldsvik AB. The transaction is subject to, and conditioned by, declaration to The Inspectorate of Strategic Products (ISP), in accordance with the FDI Act (Foreign Direct Investment).

ISP, has now decided that no further action is required according to FDI Act, hence AQ Group can now finalize the acquisition of JIT Mech. The closing is planned to take place during second quarter 2024.

JIT Mech is a leading supplier of large and complex machined and welded components to customers in the electrification, forestry automation and defense industries. The companies have a consolidated turnover for 2023 of approximately SEK 130 million, an operating margin in line with the AQ average and have 75 employees. Operations are conducted in Robertsfors and Örnsköldsvik.

________________________________________________________________________________________________________________

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

This disclosure contains information that AQ Group is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was released by James Ahrgren for publication at 14:30 CEST on April 15, 2024.

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, and Brazil. 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