nolax AG has sold its airbag coatings business to Nitto Denko Corporation
nolax AG (“nolax”), a Swiss family-owned developer for adhesives-relevant innovations, has sold its proprietary thermoplastic multilayer adhesive film solution (“nolax Airbag”) for the sealing of one-piece-woven (“OPW”) curtain airbag fabrics to Nitto Denko Corporation (“Nitto Denko”), a global, Japan-based diversified industrial group with current revenues of USD 8 billion.
Following the sale of Befesa’s Spanish sulphuric acid business and Axiall’s U.S. aromatics division to Ineos and Vivimed’s Indian specialty chemicals business to Clariant, this transaction represents the fourth chemicals deal with Swiss involvement and the 14th cross-border deal with Asia since 2015 that Lincoln International has facilitated as financial advisor.
nolax Airbag is the sole global supplier of a leading multilayer film solution for the gas-tight sealing of OPW curtain airbags, the fastest-growing segment within the expanding airbag market. Curtain airbags protect car occupants from severe or fatal injuries during a rollover accident. This requires the curtain airbags to remain inflated for a certain period of time which is being ensured by nolax Airbag’s innovative adhesive film solution. nolax Airbag today significantly improves the safety of millions of motorists around the world.
The sale of nolax Airbag to Nitto Denko represents a landmark transaction for nolax and the most significant exit to date, validating its strategy to “sow ideas and visions, let them sprout, and nurture them to market readiness.” With this acquisition, Nitto Denko expands its portfolio of products and aims for further growth in the transportation business sector as part of a commitment to transform its business portfolio. Nitto Denko will continue to deliver innovations to expand both its technological offerings and its share in the car safety industry.
nolax is an independent, family-owned company, with around 60 specialists from various industries and areas of expertise, with currently 12 active startups offering core competencies in energy, lifestyle, and mobility or fields where mobility, aesthetics, health, security and comfort play a role. nolax is the adhesive scene’s farm team.
Nitto Denko is a global, Japan-based diversified industrial group with competencies spanning from adhesives to life science industries and has current revenues of USD 8 billion. Nitto Denko strives to become a centennial company that is always trusted by customers, embraced by employees with pride, makes an active contribution to society and continuously grows on a global scale. Nitto EMEA NV is the regional headquarters for Nitto Denko in the EMEA region (Europe, Middle East, Africa).
Lincoln International acted as the exclusive financial advisor to nolax, working closely with the owner and the management team throughout the sale process. This included providing advisory expertise and managing the preparatory, marketing, negotiation and due diligence phases of the transaction.
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