BENGALURU : Astarc Group’s flagship firm Traditional Stripes, which rebranded to Naxnova final month, has acquired Belgium-based maker of customised printed electronics Quad Industries, in a bid to strengthen its manufacturing know-how, product vary and market presence as part of its progress technique.
Naxnova, which designs and makes decals, versatile 3D badges, sensible surfaces and digital options to authentic gear producers, acquired a 74% stake in Quad for about ₹90 crore (Euro 10 million), Salil Musale, managing director, stated in an unique interplay.
“This strategic acquisition aligns with our progress technique to supply the most recent superior merchandise to our clients globally,” stated Musale. “(It helps us get the) know-how when it comes to product, design, manufacturing processes and merchandise in a short time, (in addition to) the purchasers exterior.”
The corporate’s product vary consists of illuminated surfaces for branding, security sensors, contact surfaces, delicate and arduous floor thermal administration, battery thermal administration, and digital merchandise resembling wi-fi chargers, paddle door handles, inside roof lighting, parking sensors, e-mirrors, and blind-spot detection sensors.
“This transaction aligns with our progress technique as our new choices will change old-technology merchandise within the client durables market and within the 2-wheeler and 4-wheeler section. This may assist us enhance our market share and income from Indian operations exponentially going ahead,” Musale added.
The Mumbai-based firm will purchase the remaining stake in Quad from its shareholders within the subsequent few quarters. Nonetheless, Quad will proceed to function independently, led by its present administration Arne and Ruben Casteleyn.
Naxnova, which has three manufacturing amenities in India, caters to the automotive, client durables and home equipment industries in India.
With the acquisition of Quad, which has improvement and manufacturing amenities in Belgium and Slovakia, the corporate additionally will get entry to segments resembling medical, wearables, client items & automotive sector in European markets.
The acquisition is likely one of the many Naxnova is eyeing to diversify its client base and the sectors it caters to, with an goal to focus on premium clients. It has allotted a corpus of $100 million for its inorganic progress technique.
The corporate is getting into the medical gadgets and wearables business, increasing past automotive, client items and home equipment. The corporate at present has clients resembling Yamaha, Ford, Honda, Suzuki, Tata Motors, Harley Davidson, KTM, Toyota, Hero, Bajaj, Panasonic, and Samsung.
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Revealed: 20 Mar 2024, 06:31 PM IST
