TMD Friction and HELLA have agreed to transfer the 50 percent share currently held by TMD Friction in the brake joint venture Hella Pagid to HELLA. The two companies signed a letter of intent. HELLA would thus become the sole shareholder of Hella Pagid. Founded in 2013, Hella Pagid, a joint venture between automotive supplier HELLA and brake friction manufacturer TMD Friction, sells brake components and accessories on the global automotive aftermarket. The parties have agreed not to disclose details of the purchase price.
Distribution of brake products under the HELLA brand is already planned starting 1st October 2024. In the medium term, current plans additionally envisage transferring all key functions of Hella Pagid, including product management, to HELLA. The employees would also to be taken over by HELLA. The Hella Pagid portfolio will then be sold under the HELLA brand in the independent aftermarket business while maintaining the same high product quality. TMD Friction will continue to manufacture brake pads for HELLA as part of an ongoing business partner relationship. Brake pads make up one of the main product groups in Hella Pagid’s range, alongside brake discs and brake hydraulics.
Regaining full control over the Pagid brand will open up the opportunity for TMD to sell Pagid products in all regions worldwide and further develop the brand. This allows Pagid to re-join Textar as a global OE premium brand in the TMD Friction portfolio. TMD Friction will resume extended sales under the Pagid brand from 1st October 2024.
TMD acquisition
In August, TMD Friction, the specialist in high-quality brake pads for the automotive and brake industry, confirmed its sale to AEQUITA , an international industrial group headquartered in Munich with many years of experience in the automotive sector.
AEQUITA acquires TMD Friction from TMD’s Japanese parent company Nisshinbo Holdings Inc.