TMD Friction, a worldwide leading specialist for high-quality brake friction solutions for the automotive and brake industry, confirms its sale to AEQUITA, an internationally active industrial group with headquarters in Munich, Germany, that has a strong automotive division.
AEQUITA acquires TMD Friction from TMD’s Japanese parent company Nisshinbo Holdings Inc. The transaction is expected to be completed in the fourth quarter of 2023, subject to approval by the relevant authorities and the fulfilment of other customary implementation conditions. TMD Friction’s leadership team has been thoroughly involved in the acquisition process throughout and will do everything required to ensure a smooth transition of the TMD Friction Group to AEQUITA.
Alongside its automotive suppliers the IFA Group (Germany), the SIGNATA Group, the Meteor Group and the Willi Elbe Group, AEQUITA’s automotive division records sales of more than two billion euros.
Investment provides focus on future growth, more independence and flexibility
The automotive industry is changing at a tremendous pace, which poses enormous challenges for all. “This deal comes at exactly the right time for TMD, and we could have no better partner than AEQUITA. It provides us with the best opportunity to run our business independently while strengthening our competitiveness, further driving our own ongoing transformation, and expanding our position as the trusted supplier of brake friction solutions to a diversified portfolio of leading OEMs and Tier 1 suppliers, and the international independent aftermarket,” said David Baines, CEO of TMD Friction.
“AEQUITA’s investment is excellent news for TMD because they are far more than just a financial investor. The team at AEQUITA represents the perfect partner to help us build a much more robust and profitable company, which in turn opens the strong prospect for future growth.”
“TMD is a tremendous company and a great addition to our automotive division. With more than 135 years in the brake friction industry and its strong R&D know-how, TMD has established itself as the global partner of choice for its blue-chip customer base – strong fundamentals which we will build on.”, said Christoph Himmel, Managing Partner of AEQUITA.
“We believe that TMD offers significant growth potential in both, the OEM as well as the independent aftermarket. Together with the company’s great management team and employees, we will aim at materializing on these potentials.”
TMD Friction supplies vehicle manufacturers with premium products for original equipment, as well as being a driving force in the international aftermarket with the brands Textar, Mintex, Don, Pagid, Cobreq, Nisshinbo, and Bendix. The product portfolio also includes brake friction products for motor racing under the Pagid Racing and Mintex Racing brands and for industry applications under the Cosid brand.
TMD Friction Group employs more than 4,200 people worldwide with locations across Europe, the USA, Brazil, Mexico, China, and Japan.
AEQUITA is a privately-owned industrial group based in Munich, Germany, investing in special situations including corporate carve-outs, successions, and recovery situations across Europe. With a strong capital base, entrepreneurial expertise and a partnership approach, the team focuses on the acquisition and long-term value enhancement of companies that can benefit from an operational engagement. AEQUITA brings a fresh and sound view to all areas of the business, such as sales development, production optimization and efficiency measures, which can help management to drive sustainable growth. AEQUITA contributes not only the capital, but also the vision, inspiration and operational impetus needed to reach the next stage in the development of its companies and their success stories.