Naxnova acquires ATT, bolstering expansion strategy

MUMBAI, India, April 12, 2024 /PRNewswire/ — Naxnova, a company, uses human-inspired design to create surface augmentation solutions for industries like automotive and appliances, formerly known as Classic Stripes, announced the successful acquisition of Advanced Thermal Technologies (ATT), a company that designs and manufactures thermal management solutions, specializing in heating systems using printed PTC polymers for industries like automotive and aerospace. This strategic acquisition, quick on the heels of the acquisition of the Belgium based Quad Industries, marks another significant step forward in Naxnova’s expansion strategy reinforcing their commitment towards delivering innovative solutions to customers worldwide.

ATT has built a reputation for design, development, and manufacturing in Advanced Driver Assistance Systems (ADAS) Sensor and Camera Heating Solutions. They also specialize in Vehicle Cabin Solutions, Battery Heating Solutions, Battery Diagnostic Solutions, Seat Sensing & Heating Solutions, etc. Their clientele spans diverse industries such as automotive, aerospace, retail, and building. ATT brings invaluable expertise and experience to the Naxnova family. It has world-class R&D capabilities and a track record of servicing marquee customers worldwide, including prestigious OEM brands such as Porsche, Airbus, Daimler, Valeo, among others. The team, in collaboration with Advanced Thermal Technologies, endeavors to enhance their offerings, providing enhanced value to global customers.

Commenting on the second acquisition in the last 30 days, Mr. Salil Musale, Managing Director, Naxnova, shared“This acquisition strengthens Naxnova’s commitment to innovation and customer delight. We aim to accelerate product development and expand market reach by combining our strengths with those of Advanced Thermal Technologies. This collaboration also creates new opportunities for collaboration and partnership. These ingenious solutions in the field of Thermal Management will become a huge requirement for OEMs globally. They ensure safety monitoring and enhance human comfort. ATT stands out as one of the very few companies that have advanced technology in thermal science.”

“With this acquisition, we aim to commercialise these products with our current customers and new customers in India. This acquisition, combined with our earlier announced acquisition of Quad Industries in Belgium, is a perfect example. It reflects our Hon’ble Prime Minister’s vision of Design and Make in India for the World,” he further added.  

By integrating ATT’s cutting-edge technologies and expertise into Naxnova’s portfolio. The team is poised to deliver enhanced value to our customers across various sectors. This acquisition not only strengthens their capabilities but also paves the way for aggressive development and commercialization of next-generation thermal management solutions for customers globally, especially in India.

In response to the acquisition, the founders of Advanced Thermal Technologies (ATT) expressed their enthusiasm and optimism. They stated, “Joining forces with Naxnova presents an exciting opportunity for us to further expand our reach and capabilities. We are proud of the reputation we have built in delivering innovative thermal management solutions to esteemed clients worldwide. We are confident that together with Naxnova, we can achieve even greater success.”

They continued, “Naxnova’s commitment to innovation and customer satisfaction aligns perfectly with our own values. We believe this partnership will accelerate product development, providing enhanced value to customers across diverse industries, fostering growth.”

This second acquisition marks a new chapter of growth and innovation for the home grown company. While the recently acquired Belgium-based Quad Industries, along with ATT, will create a value chain leveraging the synergies between all three companies to provide innovation and next-generation solutions for customers on a global level.

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