Leading global law firm Baker McKenzie has advised Schaffner, a global leader in solutions that ensure the efficient and reliable operation of power electronic systems by shaping electrical power, on the sale of its Power Magnetics Division to Swedish AQ Group, a global manufacturer of components and systems for industrial applications.
Schaffner’s Power Magnetics Division is a leading supplier in design and manufacturing of specialized power electronics components, such as reactors, transformers, and filters in the medium to high power range. Its customers include leading players in the fields of the railway, industrial and electrification sectors.
The integration into AQ Group will open up new perspectives for the Power Magnetics Division and its employees. The Schaffner Group will focus on its core business of EMC-filter solutions for industrial markets and for e-mobility and invest the funds resulting from the sale into the expansion of these activities. The sale will be made at an enterprise value of CHF 22.4 million. The transaction is expected to be closed at the end of the second quarter 2021.
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 Baker McKenzie team consisting of Alexander Fischer (Partner M&A), Petra Hanselmann (Partner M&A), Boris Wenger (Partner Antitrust), Christian Rioult (Associate M&A) and Elena Mani (Trainee) advised on all legal aspects of the transaction.