New Delhi: Naxnova (previously referred to as Traditional Stripes), a design and know-how firm and one of many business leaders in floor augmentations, acquired Quad Industries Belgium, a distinguished participant within the printed electronics sector on Thursday for INR 90 crore ( approx. EUR10 million).
This substantial funding marks a big strategic transfer for Naxnova because it expands its market presence and solidifies its place as a frontrunner in delivering disruptive services for its clients. Naxnova has acquired 74% stake from the present shareholders of Quad Industries and the stability stake shall be acquired in a phased method making the transaction a 100% share buy deal over the subsequent few quarters, the corporate stated..
Established in 1998, Quad Industries Belgium has garnered a robust popularity for its subsequent era know-how in growing and manufacturing consumer interfaces and different printed options for the medical, wearables, shopper items and automotive sector within the European Union. This acquisition brings collectively the complementary capabilities of Naxnova and Quad Industries Belgium, enabling the mixed entity to supply a broader vary of subsequent era merchandise, notably within the automotive, shopper items, and healthcare sectors, they stated in a media launch.
Led by Arne and Ruben Casteleyn, Quad Industries has well-established improvement and manufacturing services positioned in Belgium and Slovakia. Prior to now few years, Quad expanded its actions within the area of printed electronics even additional and it could actually now additionally present these sectors with modern, versatile sensor options.
Salil Musale, Managing Director of Naxnova, stated, “We’re delighted to welcome Quad Industries into the Naxnova household. This strategic acquisition aligns with our progress technique to supply the most recent superior merchandise to our clients globally. This transaction completely aligns with our progress technique not simply worldwide however instantly within the Indian market as our new choices will change previous know-how merchandise in shopper durables market and within the 2 wheeler and 4 wheeler phase. It will assist us enhance our market share and income from Indian operations exponentially going ahead.”
Ruben Casteleyn, founder and managing director of Quad, stated, “Becoming a member of forces with Naxnova presents a superb alternative for each the businesses. The synergies created via this collaboration allow us to ship a fantastic set of services to our clients. Collectively, we are going to proceed to push the boundaries of know-how and form the way forward for printed electronics in markets the place we function.”
Each Naxnova and Quad Industries Belgium share a dedication to fostering innovation, quick product improvement and studying new applied sciences according to clients present and future wants.
Naxnova’s product lineup consists of a big selection of subsequent era options designed to boost inside and exterior branding, enhance security, present consolation & comfort and supply a wow issue with its design strengths. Their merchandise vary from illuminated surfaces for branding, security sensors, contact HMIs to smooth and exhausting floor thermal administration, battery thermal administration, and so on.
Naxnova additionally gives varied different digital merchandise reminiscent of wi-fi chargers, paddle door handles, inside roof lighting, parking sensors, exterior physique kits, e-mirrors, blind-spot detection sensors, defogging sensors, digital sidesteps, and so on. Whereas increasing its futuristic product portfolio, the corporate has additionally steadily expanded in its ornamental by including extra ornamental and aesthetic merchandise for the two-wheeler and passenger automotive segments in India. With this acquisition, Naxnova may have added extra merchandise to supply the Indian 2 wheeler, passenger automotive, and white items business.
In latest months, Naxnova has additionally entered the Indian white items and passenger automotive segments. “We’re thrilled to enter the white items and passenger automotive segments with extra buyer centric, wow merchandise that are orbits above present merchandise provided by others within the business. With an aggressive progress technique in thoughts, we’re assured that these modern options will enable us to realize a considerable market share in India in 2024 and past. Now we have additionally considerably lowered our product improvement timeline, which is a big achievement for us and intensely advantageous and according to clients as we speak. Our focus stays on offering distinctive worth to our clients whereas maintaining their wants on the middle of our operations. We’re completely aligned and our working exhausting in the direction of our Hon’ble PM’s initiative and imaginative and prescient of designing and manufacturing merchandise in India for the World.” Musale added.
