TMD Friction sold to German buyer
TMD Friction has been sold by its Japanese parent company Japanese parent company Nisshinbo Holdings to AEQUITA, a German industrial group whose automotive division includes the IFA Group, the SIGNATA Group, the Meteor Group and the Willi Elbe Group.
Commenting on the sale, TMD Friction CEO David Baines said: “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.”
Christoph Himmel, Managing Partner of AEQUITA added: “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’s brands include Textar, Mintex, Don, Pagid, Cobreq, Nisshinbo, and Bendix, along with brake friction products for motor racing under the Pagid Racing and Mintex Racing brands and for industry applications under the Cosid brand.
The transaction is expected to be completed in Q4 of 2023, subject to approval by relevant authorities.