On 20 August 2024, R&S Group Holding AG acquired Kyte Powertech Limited, an Ireland-based manufacturer of distribution transformers, based on an enterprise value of EUR 250 million. The funding for the acquisition was secured by a bridge loan amounting to CHF 233 million and a rollover of a significant portion of shares held by the existing Kyte Powertech management into the SIX-listed RSGN shares. Furthermore, equity commitments of CHF 23 million were secured and called. Following the transaction, R&S Group Holding AG, formerly the special purpose acquisition company (SPAC) known as VT5 Acquisition Company AG, reported that 79% of its warrants (RSGW) placed in its IPO were exercised on 1 October 2024.