Simont Braun successfully assisted Naxnova with its acquisition of a 74% majority stake in the Belgian-based Quad Industries, marking its first expansion to Europe and strengthening its product offering for the automotive industry.
Naxnova (previously Classic Stripes) is part of Astarc Group and a leader in new generation solutions for global OEMs in the automotive, consumer durables and appliances sectors in India.
Quad Industries is a leading technology provider specialised in the development and manufacturing of customised printed electronics in the medical, wearables, consumer goods and automotive sectors in Europe.
The deal was signed in March 2024 and subject to a few conditions precedent, including FDI filing. On 8 July 2024, the deal was successfully closed. Naxnova acquired a 74% stake in Quad Industries and intends to acquire the balance stake over the next few quarters.
The Simont Braun team provided full legal buy-side support including legal due diligence, drafting and negotiation of the transaction documentation, FDI filing, and the entire process leading up to closing, and is thrilled to have contributed to the successful expansion of Naxnova in Europe.
Simont Braun’s Corporate M&A department team was led by partner Tom Swinnen and associate Melissa Maertens.
For any questions or assistance, please feel free to contact corporate M&A partner Tom Swinnen (tom.swinnen@simontbraun.eu).
