TMD Friction has been acquired by its senior management team and Pamplona Capital Management, a London-based investment fund.

Following the acquisition, TMD Friction will benefit from the long-term support of Pamplona and a strong and debt-free balance sheet. The formal completion of the acquisition is expected by the end of April.

In a statement, TMD said “This step marks the end of a period of uncertainty. We are very thankful that you have accompanied us continuously and placed your trust in us. With your support we were able to find a way out of insolvency within a short period of time. With our financial constraints resolved and the experienced management of TMD Friction operating the business we are confident that we can continue to build on our leading market
position with a large part of our business focused on the Aftermarket and our good relationship with you as our customer.”

Pamplona is currently investing out of its second private equity fund. Its first fund includes an investment in 2005 in SAF-Holland, the German-based manufacturer of components and systems for heavy goods vehicles, a company in which Pamplona remains the largest shareholder.