TMD Friction confirms takeover by AEQUITA

TMD Friction has been acquired by AEQUITA, a privately-owned industrial group based in Munich.

The transaction was sealed after receiving the required regulatory clearances and approvals from all relevant authorities. TMD Friction says it will remain independent as a separate legal entity with its own corporate brand.

TMD Friction CEO, David Baines, said: “I am very excited to announce that three months after AEQUITA agreed to acquire TMD, that 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.

“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 one suppliers, and the international independent aftermarket.”

Robert Roiger, partner at AEQUITA – who will be joining TMD’s management team as Co-CEO – added: “Having worked closely with the team over the last couple of months, we are very excited to finally become the new owner of TMD. Together with the company’s skilled and experienced employees, we will continue to provide customers with the highest quality and service levels while materialising on the significant growth potentials ahead.”