VMPL
New Delhi [India], October 16: Naxnova, a global leader in printed electronics and decorative solutions, today announced the acquisition of HS Products Engineering (HSP), a highly reputed German engineering & manufacturing company specializing in high-end precision products for the luxury automotive market.
This acquisition is expected to be both profit and growth accretive from day one, significantly enhancing Naxnova's growth in both comfort and decorative solutions for the automotive industry.
The acquisition is expected to immediately add USD 40-50 million to Naxnova's revenues, while positioning the company as a leading force in the luxury decorative and printed electronics sectors.
HS Products Engineering is renowned for its exceptional craftsmanship and established partnerships with some of the world's most prestigious luxury brands, including Rolls Royce, Bentley, Porsche, Audi, and BMW.
Specializing in premium aesthetics and comfort product categories for the luxury automotive sector, HSP has built an impeccable reputation for innovation, quality and precision.
This acquisition strengthens Naxnova's product offerings by combining HSP's expertise in high-end aesthetics with Naxnova's global reach and technological innovations in printed electronics.
By leveraging HSP's established products , engineering capabilities and customer relationships, Naxnova has begun aggressive developments with major OEMs in the EU, US, India and the Middle East to drive accelerated growth.
Commenting on the acquisition, Salil Musale, Managing Director of Naxnova, stated:
"We are very excited to welcome HS Products Engineering to the Naxnova family. Their excellence in high precision servo mechanical and kinematics engineering and strong ties with iconic global brands align seamlessly with our strategic objectives. This acquisition enhances our leadership in the decorative and comfort categories and positions us for robust growth globally.
Through this acquisition, Naxnova gains access to HSP's prestigious clientele and extensive experience in the automotive luxury sector. As the company continues to explore new opportunities in advanced printed electronics--a rapidly evolving market in sectors such as consumer electronics and healthcare--HSP's precision engineering focus combined with naxnovas high precision capabilities in printed electronics will allow Naxnova to develop more next generation products for the automotive interior and exterior applications.
"This acquisition presents a unique opportunity for us to offer seriously high value products for our customers globally especially in India, EU and the US. The strong foundation HSP provides through partnerships with brands like Rolls Royce and Porsche gives us an edge in high quality and unique products as we continue on our path towards aggressive expansion," added Mr. Musale.
This acquisition marks the latest in a series of strategic acquisitions by Naxnova to expand its global footprint and enhance its offerings for customers in the automotive, aerospace, consumer durables, electronics and medical & wearables.
Naxnova is bringing these combination of products to the India market very aggressively to continue aggressive growth in India's passenger vehicle and 2 wheeler market. Parallelly we continue to make inroads into the US and EU market with these newly acquired products and capabilities, while creating a product roadmap for building next generation products with combined capabilities of all companies under the Naxnova Group.
Looking to the future, Naxnova plans to prioritize the fast-growing field of printed electronics, a technology poised to disrupt industries from consumer electronics to healthcare. The addition of HSP's precision engineering capabilities will accelerate Naxnova's exploration of new products for its customers globally.
About Naxnova:
Naxnova (previously, Classic Stripes) the flagship company of the Astarc Group, is a design & technology company providing new-generation solutions to global OEMs in the Automotive, Consumer Durables & Appliances industries in India. The global design technology organization provides a diverse product range of integrated surface augmentation solutions that includes decals, flexible 3D badges, overlays, smart surfaces and electronic solutions. The company is a frontrunner in India to have rapidly advanced towards the research, product development, and commercialization of products enabled by printed electronics technology.
Operating from three state-of-the-art manufacturing facilities in India, Naxnova is creating a global and future-forward design and technology-first company with world-class manufacturing capabilities. The brand aims to achieve this through aggressive expansion and bolt-up acquisition plans globally, with next-generation products and solutions integrated with printed electronics technology that brands truly look for. Besides automotive, consumer goods and appliances, Naxnova will very soon be entering the medical devices & wearables industry. Naxnova prides itself on a dedicated workforce of over 1000 professionals serving customers in more than 16 countries, globally. In the automotive sector, the brand serves prestigious clients such as Yamaha, Ford, Honda, Suzuki, Tata Motors, Harley Davidson, KTM, Toyota, Hero, Bajaj, among others. Within the consumer durables segment, Naxnova serves leading names like Panasonic, Samsung, and more.
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