A North Wales company is looking to expand into new markets following acquisition.
n Industries Group Limited has acquired a majority stake in Caernarfon-based Friction Technology Limited, a market leader in the friction materials market.
Friction Technology works as the extension of customer R&D departments to develop and supply mission critical friction materials globally to both Original Equipment Manufacturers and after-market customers in a range of end markets including wind energy, industrial equipment and commercial vehicles.
CEO Jonathan Bates-Kawachi said:
“Today is an important milestone for n Industries. As a provider of mission critical friction materials with an impressive customer base, Friction Technology is an excellent fit with our group. Caernarfon, where Friction Technology is located, has a rich history producing friction materials for global markets. Working closely with Steve, Jack and Chris, and the excellent team at Friction, we are excited about the growth opportunities available for the business to help enable the development and production of friction materials to further flourish in the region.”
Chris Holmes, director at Friction Technology, said:
“I am incredibly excited to be working with Jonathan Bates Kawachi and Duncan Penny. Their experience and strategic insight will be invaluable in helping Friction Technology expand and innovate. Working with them is a fantastic opportunity, and I am confident their experience and guidance will drive our growth and strengthen our position in the industry.”
Jack Boyle, sales director at Friction Technology, said:
“Since we met Jon, Duncan, and the team at n Industries, there was clear alignment between both groups on the direction and plans for how we can continue the company’s growth. With their backing, we have the support and resources to expand into new markets and build on the strong foundations we’ve already established. We’re excited about the future, confident in this partnership, and I look forward to driving the continued success of Friction Technology.”
