Successful Deals with PwC: Sale of Schaffner Group’s Power Magnetics division to AQ Group

PwC's Corporate Finance team is pleased to announce the sale of Schaffner Holding AG’s (“Schaffner Group”) Power Magnetics division to AQ Group AB (“AQ Group”). PwC supported Schaffner Group with lead advisory as well as vendor assistance and tax services.

The Power Magnetics division is active in the development and manufacture of electrical components and transformers. Following its successful turnaround and having almost no synergies with the Group's core business, Schaffner Group decided to sell the Power Magnetics division to the Swedish AQ Group, which can offer better development prospects for the Power Magnetics business and its employees.

AQ Group, headquartered in Västerås, Sweden, was founded in 1994 as a spin-off from ABB. The group develops, manufactures and distributes components and systems for industrial customers with high demands. AQ Group employs around 5'900 people and has a global presence with its operating companies. With its "Inductive Components" business area, AQ Group operates in the same field as Schaffner's Power Magnetics division and serves customers in the railway, industrial and power engineering sectors.

The AQ Group will take over the Power Magnetics sites in Paderborn (Germany), Kecskemet (Hungary), Wytheville and Roanoke (USA) and the Power Magnetics part in Shanghai with all employees. The Schaffner Group's EMC activities, which are currently also still located in Hungary, will be transferred to Asia.

The sale will be made at an enterprise value of CHF 22.4 million. The transaction is subject to customary closing conditions and is expected to be closed at the end of the second quarter 2021.

The PwC team

Corporate Finance / M&A

Sascha Beer
Michael Huber
Alessandro Rossi
Basil Eberle

Transaction Services

Nico Psarras
Patrick Amstutz

Tax

Matthias Marbach
Matthias Ruesch
Roman Seiler