• AURELIUS sells SEG Electronics to Arteche Group after six years of ownership
• The transaction follows the successful transformation of SEG Electronics into a leading provider of medium-voltage protection relays, which in recent years has achieved sustained double-digit revenue growth and strong profitability

Munich, June 15, 2026 – AURELIUS Private Equity Lower Mid-Market has sold SEG Electronics (SEG) to Arteche Group (Arteche), a Spanish multinational company headquartered in Mungia that develops equipment, solutions, and services for the global electric power industry.

AURELIUS acquired SEG in 2020 from NASDAQ-listed Woodward Inc. Based in Kempen, Germany, SEG is a leading independent manufacturer of premium-quality protection relays for medium-voltage power grid applications used for the electrical protection of generators, transformers, motors, cables and overhead lines. Today, SEG serves more than 300 customers in more than 50 countries.

Since acquiring SEG six years ago, AURELIUS has been working closely with the management team to develop the company into a focused, standalone specialist with global reach. In particular, AURELIUS supported SEG in professionalising its organisational structures and processes. Additionally, management sharpened the company’s strategic focus on high-growth applications such as power distribution, renewables and data centres, and expanded its international footprint with offices in the US, Poland and the UAE as well as a broad channel partner network in more than 40 locations.

Operating in a highly regulated environment with rapidly evolving grid and cyber-security standards, and managing complex, long-cycle customer relationships with global blue-chip OEMs, utilities and data centre operators, the SEG team, together with AURELIUS, further strengthened SEG’s position as a trusted partner in the medium-voltage market. Under AURELIUS’ ownership, SEG developed into a high-performing global player, with c. 15% annual revenue growth and an adjusted EBITDA margin above 20%.

Arteche Group is acquiring a company that has a clearly defined growth plan with numerous growth drivers, including further internationalisation, targeting of high-growth application areas, cross-selling and up-selling to existing customers, and the introduction of new product variants and upgrades. These are underpinned by megatrends such as the unprecedented rise in global electricity demand – driven by AI and electromobility, decentralisation due to the expansion of renewable energies, and an ageing infrastructure requiring upgrades and replacements.

Franz Woelfler, Partner at AURELIUS, says: “While SEG has been a lower midmarket investment for us, our playbook has been exactly the same as with larger portfolio companies: acquire an asset we believe can perform significantly better, stabilise the newly independent business as a standalone company, enhance its operational performance, and unlock strategic opportunities for long-term growth. It is a real pleasure to see the business now firing on all cylinders, and to be able to pass it on to a very good home. We wish all employees every success under the roof of Arteche Group.”

Daniel Nickerl, Managing Director of SEG, adds: “Working in tandem with such a committed, hands-on owner has been a pleasure for me and SEG’s management team. I would like to thank AURELIUS for a successful collaboration over the last few years, and I think I speak for all of us at SEG when I state that am now looking forward to continuing our good work under strategic owner Arteche.”

AURELIUS was advised by Piper Sandler (M&A), EY-Parthenon (Financial) and WTS (Tax).

About AURELIUS

AURELIUS is a global private equity investor, distinguished and widely recognised for its operational approach. It focuses on private markets, in particular Private Equity and Private Debt. Its key investment platforms include AURELIUS Opportunities V, AURELIUS European Opportunities IV, AUR Portfolio III and AURELIUS Growth Investments. AURELIUS has been growing significantly in recent years, especially expanding its global footprint, and today employs more than 400 professionals in 10 offices spanning Europe, North America and Asia.

AURELIUS is a renowned specialist for complex investments with operational improvement potential such as carve-outs, platform build-ups or succession solutions as well as bespoke financing solutions. To date, AURELIUS has completed more than 300 transactions, and has built a strong track record of delivering attractive returns to its investors. Its approach is characterised by its uncompromising focus on operational excellence and an unrivalled ability to efficiently execute highly complex transactions.

More info: www.aurelius-group.com

AURELIUS media contact:

Harald Kinzler
Head of Communications
harald.kinzler@aurelius-group.com
+44 7785 722 191