Naxnova (formerly known as Classic Stripes), a design & technology company has announced the acquisition of Quad Industries Belgium, a leading player in the printed electronics sector today for Rs 90 crore (10 million euros). This investment marks a significant strategic move for Naxnova as it expands its market presence and solidifies its offering.
The company has acquired 74% stake from the current shareholders of Quad Industries and the balance stake shall be acquired in a phased manner making the transaction a 100% share purchase deal over the next few quarters.
Established in 1998, Quad Industries Belgium develops and manufactures user interfaces and other printed solutions for the medical, wearables, consumer goods & automotive sector in Europe. This acquisition brings together the complementary capabilities of Naxnova and Quad Industries Belgium, enabling the combined entity to offer a broader range of next generation products, particularly in the automotive, consumer goods, and healthcare sectors. Led by Arne and Ruben Casteleyn, Quad Industries has a well-established development and manufacturing facility located in Belgium and Slovakia. In the last few years, Quad expanded its activities in the field of printed electronics even further so that we can now also provide these sectors with innovative, flexible sensor solutions.
Salil Musale, MD, Naxnova said: “This strategic acquisition aligns with our growth strategy to offer the latest advanced products to our customers globally. This transaction perfectly aligns with our growth strategy not just worldwide but immediately in the Indian market as our new offerings will replace old technology products in consumer durables market and in the two-wheeler and four-wheeler segment. This will help us increase our market share and revenue from Indian operations exponentially going forward. Our merged capabilities will allow us to design, develop & supply advanced, high value next-generation products to our customers with more speed, fostering stronger customer relationships and leaping ahead of our competition. Speed, high quality & best design functionality are the core of our business.”
Ruben Casteleyn, Founder & MD, Quad said, “The synergies created through this collaboration enable us to deliver a great set of products and services to our customers. Together, we will continue to push the boundaries of technology and shape the future of printed electronics in markets where we operate.”
At present, Naxnova’s product lineup includes a wide array of next generation solutions designed to enhance interior and exterior branding, improve safety, provide comfort & convenience and offer a premium factor with its design strengths. Their products range from illuminated surfaces for branding, safety sensors, touch HMIs to soft and hard surface thermal management and battery thermal management among others. It also offers various other electronic products such as wireless chargers, paddle door handles, interior roof lighting, parking sensors, exterior body kits, e-mirrors, blind-spot detection sensors, defogging sensors and electronic sidesteps among others.
While expanding its futuristic product portfolio, the company has also steadily expanded in its decorative by adding more decorative and aesthetic products for the two-wheeler and passenger car segments in India. With this acquisition, Naxnova will have added more products to offer the Indian two-wheeler, passenger car, and white goods industry.
