Turkish reinforcement materials supplier Kordsa, has acquired U.S.-based Axiom Materials for $181 million in a bid to strengthen its advanced composites business.
Based in Santa Ana, California, Axiom Materials manufactures a range of composite materials and engineered products, including ceramic prepregs, epoxy unidirectional carbon prepregs, tooling prepregs and film adhesives, according to the company website.
Kordsa, a subsidiary of Sabanci Holding, was previously a supplier and technical partner of Axiom Materials in the field of textile reinforcement technologies. Following the close of the transaction, Axiom Materials continues to operate under its existing trade name and business partnerships.
Billed as “the material of the future," Axiom Materials’ products are widely used in aircraft engines and have different applications in various industries.
“Dynamic portfolio management and high technology-oriented investments are critical areas of focus in the transformation process of Sabanci Group,” said Mehmet Gocmen, Sabanci Holding CEO.
According to Gocmen, following the earlier acquisition of U.S.-based companies, Kordsa created a business line with annual gross revenue of over $150 million.
“With the acquisition of Axiom Materials, we have expanded our expertise in the field of composites and finalized the portfolio of advanced composite intermediates,” said Ali Caliskan, Kordsa CEO.
Following the acquisition, Kordsa – which has recently stepped up its activities in advanced composites – claims to have become “the only worldwide qualified manufacturer of oxide-oxide ceramic matrix composites.”
The move is part of a bid by the Turkish supplier to build “a second Kordsa” focused in on composite technologies and follows the 2017 acquisitions of US-based Fabric Development and Textile Products as well as the 2018 purchase of Advanced Honeycomb Technologies.
The Izmit, Turkey-headquartered company has invested a total of $300 million in composite technologies over the past two years.
Kordsa acquires US composites supplier Axiom Materials
Axiom Materials
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