Industrial group AQ Group is acquiring business assets and properties from transformer manufacturer Norlake in the state of Ohio, USA.
The purchase price is USD 1.4 million, and AQ is assuming and settling liabilities of approximately USD 12 million.
“The purpose of the acquisition is to expand AQ’s production capacity and customer base, as well as broaden our technology and market presence within inductive components in the US. Norlake has more than 50 years of experience working with demanding industrial customers and complements AQ’s inductive components business area. This transaction is a continuation of AQ’s strategy to become the leading global company in customised inductive components for demanding industrial customers. We believe that Norlake fits very well into AQ’s business model, and we see many synergies in production, purchasing and the market. We are pleased to welcome our new colleagues from Norlake to AQ Group,” says AQ Group CEO James Ahrgren.
Norlake generated revenue of USD 7 million in 2025. AQ estimates that the business can reach annual revenue of approximately USD 35 million at full capacity utilisation.
