A circuit assembly for a power converter includes a substrate, power stage integrated circuit (IC) dies, and output inductors that connect switch nodes of the power stage IC dies to an output node of the power converter. The power stage IC dies are mounted on one side of the substrate and the output inductors are mounted on an opposing side of the substrate. Two output inductors go through a magnetic core. A heatsink is attached to surfaces of the power stage IC dies. A power stage IC die has a pair of switching transistors, and a switch node formed by the switching transistors is connected by an output inductor to the output node of the power converter.