Nisshinbo sells TMD Friction to Aequita

Nisshinbo Holdings Inc. has confirmed the sale of braking manufacturer TMD Friction to Munich-based industrial group Aequita.

The transaction is expected to be completed in Q4 of 2023, subject to approval by the relevant authorities. No financial details of the agreement have been disclosed.

TMD Friction chief executive David Baines said the deal “provides us with the best opportunity to run our business independently while strengthening our competitiveness”, adding that it will expand the firm’s 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”.

TMD Friction’s product portfolio is made up of aftermarket brands such as Textar, Mintex, Don and Pagid, manufacturing braking solutions for both passenger cars and commercial vehicles.

Aequita’s current portfolio spreads across the automotive, industrial goods, and construction industries. It has partnerships with the likes of Mercedes-Benz, Audi, BMW Group, Daimler Truck, ZF, Volvo, Porsche, and Volkswagen.