Comsys today announced the acquisition of Stuttgart based power quality and power converter development company PowerQ GmbH. The acquisition highlights Comsys strategic focus on technological innovation and international expansion to build long-term shareholder value and strengthen customer support in key markets.
"This transaction combines PowerQ's strong competence in advanced power converter design for power quality and an increased presence in the growing central European markets with Comsys already extensive portfolio of power quality solutions", said Peter Ström, Executive Deputy Chairman of Comsys."Heiko Vachek and his team have done an impressive job of nurturing the domain knowledge and have created significant value. We are pleased to bring this talent and these great assets to Comsys."
"Comsys is the perfect home for PowerQ's know how, solutions and products. Given our good strategic fit, the combination of our forces will bring significant opportunities for fast growth and more cost efficient product platforms," said Heiko Vachek, PowerQ's Chief Technical Officer."This was an unparalleled opportunity for us and it was too good to pass."
Commenting on the announcement Lars Frithiof, Chairman Comsys AB said, "being provided with a platform such as PowerQ will enable us to serve the German and central European markets more efficient and to continue our expansion by increasing our ambitions in a very progressive region."
PowerQ GmbH, has extensive experience in Power Quality, energy analysis and advanced power converter design.The company was founded by Heiko Vachek after leaving a position as partner and CTO of an R&D company in mid 2006 where Vachek focused on power converter design and development of active power filter products for the broadcasting industry, data centers and wind power. PowerQ GmbH has customers such as BMW, Bosch and Vestas Wind on their customer reference list.
With the acquisition, PowerQ GmbH becomes a wholly owned subsidiary of Comsys. Operations will be coordinated to maximize the performance of both Comsys and PowerQ.
For more information please contact:
CEO Comsys AB ,
Tel: +46-46-286 35 03
Chairman Comsys AB
Tel: +46-705-81 10 77
Comsys AB specializes in energy optimization and helps clients to resolve power quality problems in low and medium voltage electrical systems. Comsys develops, manufactures and markets the patented digital energy optimization technology ADF. It reduces energy consumption, increases production capacity, resolves production disturbances, and reduces maintenance and refit costs in a wide array of processes and applications. The ADF product line ranges from 100 kVA and upwards to several MVA. For more information, please visit: www.comsys.se
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