AEQUITA acquires TMD Friction Group from Nisshinbo

Munich, 23 August 2023 - AEQUITA SE & Co. KGaA, a global industrial group headquartered in Munich, Germany, entered into a definitive agreement to acquire TMD Friction Group S.A. from Nisshinbo Holdings Inc.. TMD Friction is a globally leading manufacturer and distributor of brake friction materials for passenger cars, commercial vehicles, and industry applications. The company serves international OEMs and Tier 1 suppliers, as well as the independent aftermarket with many renowned brands, such as Textar, Mintex and Pagid. TMD generates ca. 800 million euros in revenues and employs more than 4,200 people worldwide with locations across Europe, the USA, Brazil, Mexico, China, and Japan.

The divestment follows a thorough strategic business portfolio review by Nisshinbo. As a result, the decision was taken that the business activities of TMD are non-core. Based on a comprehensive selection process, Nisshinbo chose AEQUITA as the trusted partner to ensure TMD’s sustainable long-term development and future growth.
 
"We are very proud and honoured that Nisshinbo selected AEQUITA as the best owner for TMD,” said Christoph Himmel, Managing Partner of AEQUITA. “TMD Friction is a great company and a significant addition to our automotive division, now recording sales of more than 2 billion euros. 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. These are strong fundamentals on which we will build on together with the company’s experienced management team and employees.”

“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 and further driving our own ongoing transformation,” explained David Baines, CEO of TMD Friction. “The team at AEQUITA will support us to build a much more robust and profitable company, which in turn opens the strong prospect for future growth.”

The transaction is expected to be completed in the fourth quarter of 2023, subject to approval by the relevant authorities. The financial details of the agreement are not being disclosed.
 

About Nisshinbo

Nisshinbo Holdings Inc is a Japanese, listed company. It operates across several business segments including wireless and communications, microdevices, brakes and other businesses. In 2022, Nisshinbo achieved sales of 516 billion yen (>3 billion euros) with approximately 21,000 employees worldwide. For further information, please visit: https://www.nisshinbo.co.jp/
 

About AEQUITA

AEQUITA is a Munich-based family office investing in special situations including corporate carve-outs, successions, and transformational situations across Europe. Its current portfolio spreads across the automotive, industrial goods, and construction industries with 1.5 billion euros in revenues. 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.

Contact

Simon Schulz
Partner

AEQUITA SE & CO. KGaA
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