Caernarfon, United Kingdom: n Industries Group Limited (“n Industries”), a leading supporter of UK SME industrial businesses, has announced the acquisition of a majority stake in Friction Technology Limited, a market leader in the friction materials sector. As part of its decentralised structure, n Industries will collaborate closely with Friction Technology’s management team to drive further growth for the business.
Friction Technology operates as an extension of its customers’ R&D departments, developing and supplying mission-critical friction materials to global Original Equipment Manufacturers and aftermarket customers. The company serves a diverse range of industries, including wind energy, industrial equipment, and commercial vehicles. Leveraging industry-leading technical expertise and an extensive in-house formulations database—currently featuring over 90 commercially available friction products—Friction Technology has built a strong reputation in its field.
With well-invested manufacturing facilities, Friction Technology is well-positioned for expansion, and n Industries has committed to supporting its continued growth as a market leader in friction materials.
Speaking about the acquisition, Jonathan Bates-Kawachi, CEO of n Industries, described it as a significant milestone for the group:
“Today is an important milestone for n Industries. As a provider of mission critical friction materials with an impressive customer base, Friction Technology is an excellent fit with our group. Caernarfon, where Friction Technology is located, has a rich history producing friction materials for global markets. Working closely with Steve, Jack and Chris, and the excellent team at Friction, we are excited about the growth opportunities available for the business to help enable the development and production of friction materials to further flourish in the region.”
Chris Holmes (Director at Friction Technology) commented:
“I am incredibly excited to be working with Jonathan Bates Kawachi and Duncan Penny. Their experience and strategic insight will be invaluable in helping Friction Technology expand and innovate. Working with them is a fantastic opportunity, and I am confident their experience and guidance will drive our growth and strengthen our position in the industry.”
Jack Boyle (Sales Director at Friction Technology) commented:
“Since we met Jon, Duncan, and the team at n Industries, there was clear alignment between both groups on the direction and plans for how we can continue the company’s growth. With their backing, we have the support and resources to expand into new markets and build on the strong foundations we’ve already established. We’re excited about the future, confident in this partnership, and I look forward to driving the continued success of Friction Technology.”
About n Industries: n Industries acquires majority stakes in outstanding small UK Industrial companies, that supply mission or life critical products or solutions. As the permanent owner of these businesses, n Industries typically works with existing management to develop them into even higher quality, faster growing businesses.
Companies in the group retain significant autonomy and benefit from the expertise of the team in place. We look to retain the identity of the businesses that join the group, and have management and employees share in results of the growth.
n Industries leadership includes two successful former FTSE 250 CEOs. Paul Simmons was previously CEO of Hill & Smith, and Sector CEO of Halma’s Infrastructure and Process Safety Sectors. Duncan Penny was CEO of XP Power. Both co-founders Paul and Duncan have a track record of delivering double-digit organic growth for established industrial businesses over the long-term from their previous roles.
Founder and CEO, Jonathan Bates-Kawachi, has a background investing in industrial businesses, and was previously a Senior Investment Manager at Pictet Asset Management.
