Boston, MA -- (SBWire) --05/25/2011 --C.W. Downer & Co., a leading global middle-market investment bank, is pleased to announce that TMD Friction Group SA has acquired Dynotherm (Pty) Ltd., a South African friction manufacturer for industrial, rail & commercial vehicle applications. The transaction closed on April 28, 2011 and the financial terms were not disclosed.

TMD Friction is the world's leading manufacturer of friction materials for automotive and industrial applications. The acquisition of Dynotherm--the company's third acquisition in nine months--supports TMD Friction's strategic goal of diversifying its product range through global expansion in the non-automotive friction materials market.

“The expansion of our technology leadership in niche growth industries outside the automotive sector, including rail and other industries, is one of our essential growth strategies,” explained Derek Whitworth, President and CEO of TMD Friction, in a company statement. “Dynotherm's product portfolio brings exciting new technologies to TMD Friction. Our global reach will bring these products to a much broader market.”

“This transaction is the first result of our systematic global search & acquisition program currently mandated by TMD Friction,” said Ulrich Müller, Managing Director of C.W. Downer & Co. C.W. Downer identified and approached Dynotherm and also initiated the discussions with TMD Friction.

The C.W. Downer transaction team responsible for the acquisition included Wade Aust, Managing Director & Partner (Boston), Ulrich Müller, Managing Director (Frankfurt), Raymond Morin, Vice President (Frankfurt) and Jochen Köhler, Associate (Frankfurt).

About C.W. Downer & Co.
C.W. Downer & Co. is an independent, global investment bank offering middle-market clients a high level of personal attention coupled with 35 years of international execution experience. We provide insight, not just information. We generate value, not just transactions. With seven fully integrated offices on four continents, we consistently identify the most appropriate strategic buyer and uncover “hidden” acquisition targets. C.W. Downer & Co. delivers the reach of a bulge-bracket investment bank with the senior level focus of a boutique. For more information, visit http://www.cwdowner.com.

For Further Information:

Wade Aust, Managing Director & Partner
waust@cwdowner.com

Ulrich Müller, Managing Director
umueller@cwdowner.com

Patti Allan, Marketing Director
pallan@cwdowner.com
+1 617 482 6200