AQ Group
AQ Group AB is a Sweden-based industrial manufacturer producing components and systems — including electric cabinets, wiring, injection-molded parts, sheet metal, and inductive components — for industrial customers across multiple countries through direct B2B sales.
- Company typePublic
- Founded1994
- HeadquartersVästerås, Sweden
- Headcount101–250
- GTM typeB2B
- OfferingHardware or Manufacturing
What AQ Group does
AQ Group AB is a Sweden-based industrial manufacturer, headquartered in Västerås and founded in 1994, that produces components and systems for industrial customers with high technical and quality demands. The company is organized around seven business areas: Electric Cabinets, Wiring Systems, Injection Molding, Special Tech & Engineering, Sheet Metal Processing, System Products, and Inductive Components. These capabilities are offered both as standalone components and as integrated system solutions, allowing AQ Group to serve industrial OEMs across multiple component categories from a single supplier. Inductive Components capability was materially expanded in January 2025 with the acquisition of mdexx magnetronics units, while engineering services were extended in late 2024 via the TechROi Engineering and TechROi Scandinavia acquisition, and manufacturing footprint was broadened through the July 2024 Rockford acquisition. The company maintains subsidiaries in multiple countries, navigates its corporate website in Chinese, French, English, and Swedish, and positions itself globally.
AQ Group operates as a B2B sales-led manufacturer with direct field engagement into enterprise and mid-market industrial customers. Revenue is generated through hardware sales of custom-specification components and systems under quote-based, project-specific commercial terms — pricing is not publicly disclosed. The go-to-market relies on technical specification, customization, and delivery performance as the primary commercial differentiators, with brand emphasis on reliability, long-term partnerships, and quality/environmental certifications across production sites. Distribution is direct; no retail, e-commerce, or consumer channels are used. The company is publicly listed, maintains an active investor relations program (annual general meetings tracked from 2017 through 2026), and most recently saw insider ownership reinforced when CEO James Ahrgren purchased SEK 0.5 million of shares in October 2025.
AQ Group firmographics
Firmographics- Name
- AQ Group
- Legal name
- AQ Group AB
- Website
- https://aqg.se
- Company type
- Public
- Founded year
- 1994
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- AQ Group AB is a Sweden-based industrial manufacturer producing components and systems — including electric cabinets, wiring, injection-molded parts, sheet metal, and inductive components — for industrial customers across multiple countries through direct B2B sales.
- Ownership category
- akta.pro rank
Where AQ Group is headquartered
LocationHeadquarters
- HQ city
- Västerås
- HQ country
- Sweden
- HQ region
- Europe
Offices1 record
Markets served
AQ Group business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Personnel, Supply Chain, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Industrial Components Manufacturing: AQ Group generates revenue through the manufacture and sale of industrial components and systems. The company operates multiple production facilities across different segments including electric cabinets, wiring systems, injection molding, sheet metal processing, system products, and inductive components. Revenue is generated through direct B2B sales to industrial customers requiring components and systems with high quality standards, delivery performance, and technological development.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
AQ Group product offering
Product offeringCore offering
AQ Group is a Sweden-based global manufacturer of components and systems for industrial customers with high demands. The company operates across seven business areas: Electric Cabinets, Wiring Systems, Injection Molding, Special Tech & Engineering, Sheet Metal Processing, System Products, and Inductive Components (transformers, filters, and related products). Offerings include custom design, production, and quality-assured delivery of these components and integrated system solutions.
Product overview
AQ Group is a global manufacturer of components and systems for industrial customers with high demands. The company operates as a multi-segment industrial manufacturing organization offering seven distinct business areas: Electric Cabinets (custom electrical enclosures and cabinets), Wiring Systems (industrial wiring solutions), Injection Molding (plastic component manufacturing), Special Tech & Engineering (custom engineering services), Sheet Metal Processing (metal fabrication), System Products (integrated system solutions), and Inductive Components (transformers, filters, and inductive elements, expanded through the acquisition of mdexx magnetronics). These product lines serve as both standalone offerings and can be combined to provide comprehensive solutions for industrial customers.
Differentiator
Problem solved
Functional benefit
Companies that use AQ Group
Customer profileSegments1 record
Ideal customer profiles2 records
AQ Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature7 records
AQ Group partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- mdexx magnetronicscoreAQ Group completed the acquisition of mdexx magnetronics units after receiving governmental approvals. The acquisition includes companies specializing in inductive components, transformers, and filters, expanding AQ Group's capabilities in the inductive components business segment.
- TechROi Engineering & TechROi ScandinaviacoreAQ Group acquired TechROi Engineering and TechROi Scandinavia. The company's operations include subsidiaries in multiple countries and span various segments such as system solutions and component manufacturing, expanding AQ Group's engineering and manufacturing capabilities.
- RockfordcoreAQ Group acquired Rockford, expanding its manufacturing capabilities and geographic presence. The specific details of the acquisition are limited but represent a strategic expansion of the company's operations.
Scale indicators2 records
Recent moves5 records
Expansion highlights5 records
AQ Group competitors and assessment
Company assessmentDirect peers
- Inission AB: Swedish industrial contract manufacturer providing electronics, mechanics, and complete-box-build solutions to B2B customers. Closely mirrors AQ Group's multi-technology contract-manufacturing approach and Swedish/Nordic industrial customer base.
- Hanza AB: Swedish publicly listed industrial contract manufacturer offering electronics and mechanics manufacturing solutions to B2B industrial customers. Directly comparable in business model, Swedish origin, and focus on delivering complete manufacturing solutions rather than discrete components.
- Scanfil Oyj: Finnish EMS and industrial contract manufacturer serving industrial, energy, and medtech customers across multiple geographies. Comparable scale, multi-segment contract-manufacturing model, and acquisition-led growth strategy.
- GPV International: Danish-headquartered EMS and box-build contract manufacturer with Nordic production footprint serving industrial customers. Comparable in scale, multi-segment manufacturing, and European industrial B2B customer focus.
- Phoenix Contact GmbH: German specialist in electrical interconnect, cabinet components, and inductive/transformer products. Most direct competitor to AQ Group's Inductive Components and Electric Cabinets segments at similar mid-market scale.
- Wago Kontakttechnik GmbH: German privately held manufacturer of electrical interconnect, terminal blocks, and inductive components. Closely comparable in product scope to AQ Group's wiring and inductive component businesses and in mid-market private/owner-operated scale.
Broad incumbents
- ABB Ltd: Swedish-Swiss industrial and electrification giant operating in adjacent sub-sectors (electrical cabinets, wiring, drives, power components). Overlaps with AQ Group's electric cabinet and inductive component offerings but at vastly larger scale and as part of a much wider portfolio.
- Schneider Electric SE: Global broad-line provider of electrical cabinets, wiring systems, and industrial components. Competes with AQ Group's cabinet and wiring segments while also serving as a potential customer for inductive components and contract-manufactured sub-assemblies.
- Siemens AG: Global industrial conglomerate with Smart Infrastructure and Digital Industries divisions overlapping AQ Group's cabinet, wiring, and inductive-component product areas. Functions both as a competitor in adjacent offerings and a potential OEM customer for AQ Group's contract manufacturing.
Emerging players
- NCAB Group AB: Swedish PCB sourcing and contract manufacturing specialist serving industrial customers. Shares the Nordic industrial contract-manufacturing DNA and acquisition-led expansion model, though focused on a narrower sub-segment (PCBs rather than full assemblies).
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
AQ Group social profiles
Digital presenceAQ Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
AQ Group leadership team
Management profileNumber of profiles
Profiles3 records
AQ Group subsidiaries and ownership
Company hierarchySubsidiaries4 records
AQ Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
AQ Group M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about AQ Group
What does AQ Group do?
AQ Group is a Sweden-based global manufacturer of components and systems for industrial customers with high demands. The company operates across seven business areas: Electric Cabinets, Wiring Systems, Injection Molding, Special Tech & Engineering, Sheet Metal Processing, System Products, and Inductive Components (transformers, filters, and related products). Offerings include custom design, production, and quality-assured delivery of these components and integrated system solutions.
Is AQ Group a public or private company?
AQ Group is a public company. It is classified as public and is currently operating.
When was AQ Group founded?
AQ Group was founded in 1994. It employs 101 to 250 people.
Where is AQ Group based?
AQ Group is headquartered in Västerås, Sweden, in the Europe region.
How does AQ Group make money?
One revenue line is on record: industrial Components Manufacturing.
Who are AQ Group's main competitors?
Direct peers on record are Inission AB, Hanza AB, Scanfil Oyj, GPV International, Phoenix Contact GmbH and Wago Kontakttechnik GmbH. Broad incumbents are ABB Ltd, Schneider Electric SE and Siemens AG. NCAB Group AB is listed as an emerging player.
Does AQ Group have an API?
No public API is recorded for AQ Group.