TMD Friction, a supplier of brake friction solutions for the automotive and brake industries, has confirmed the successful completion of its acquisition by Aequita, a privately-owned industrial group based in Munich, Germany.
The transaction has closed after receiving the required regulatory clearances and approvals from all relevant authorities. The deal will see TMD Friction remain independent as a separate legal entity with its own corporate brand. Robert Roiger, a partner at Aequita, will join the TMD board as co-CEO. Roiger says he sees “significant growth potentials ahead” for TMD friction.
“I am very excited to announce that, three months after Aequita agreed to acquire TMD, we can confirm the successful completion of this transaction. TMD could have no better strategic partner than Aequita. This collaboration will empower team TMD to accelerate our recovery plan. Putting our already highly motivated and engaged global team together with the industry leading know-how and operational expertise of the team at Aequita will be a dynamic and powerful combination”, said David Baines, CEO of TMD Friction.
“Over the past three months, we have been working closely with Aequita to prepare for this day. Together we will accelerate TMD’s ongoing transformation, expanding TMD’s position as a trusted supplier of brake friction solutions to leading OEMs, Tier 1 suppliers, and the international independent aftermarket.”