Aavid Thermalloy, a portfolio company of Audax Private Equity, has acquired Niagara Thermal Products. Audax acquired Aavid Thermalloy from Nautic Partners in December 2012.
Niagara Thermal Products is a maker of thermal management products such as heat exchangers, heat sinks, chassis enclosures, cold plates, and heat transfer fins. The company’s customers include manufacturers in the aerospace, defense, alternative energy, marine, and industrial markets. Niagara Thermal Products is based in Niagara Falls, NY (www.niagarathermal.com)
Aavid Thermalloy is a designer and manufacturer of thermal management products used in high-performance electronic and industrial applications including consumer products, enterprise computer systems, LED lighting, telecom, transportation, medical, military & aerospace, and test equipment. The company was founded in 1964 as Aavid Engineering and acquired Thermalloy in 1999. Today, Aavid’s has manufacturing facilities and design centers located throughout North America, Europe and Asia and has approximately 2,700 employees. The company is headquartered about 90 miles north of Boston in Laconia, NH (www.aavid.com).
“Niagara has a great reputation for providing thermal management solutions to blue-chip customers, particularly in the aerospace and defense industries,” said Alan Wong, CEO of Aavid. “Niagara’s reputation for quality, innovation, and customer service is built upon its manufacturing excellence and expert design and engineering capabilities. We are excited to join forces with Niagara, and to work with their experienced management team in expanding Aavid’s services into the aerospace, energy, and defense end markets.”
The Audax Group makes control investments of $10 million to $100 million in middle market companies with transaction values of $25 million to $500 million. Sectors of interest include industrial manufacturing; energy; outsourced industrial services; consumer products; healthcare devices and services; non-asset based logistics; technology; aerospace & defense; business services; and direct marketing. The firm was founded in 1999 and has offices in Boston and New York (www.audaxgroup.com).
© 2016 PEPD • Private Equity’s Leading News Magazine • 1-13-16
