Audax Private Equity has acquired Aavid Thermalloy, a designer and manufacturer of high-performance thermal management products. The seller was Nautic Partners. Terms were not released. Aavid is based in Concord, New Hampshire.
Nautic Partners, LLC announced today that it has completed the sale of Aavid Thermalloy, LLC (“Aavid”) to an investor group led by Audax Private Equity. The terms of the transaction were not disclosed.
Headquartered in Concord, NH, Aavid is a leading designer and manufacturer of high-performance thermal management products. Aavid’s products are used to dissipate heat and maintain optimal temperatures of electronic components that are used in servers, telecommunications equipment, transportation systems and industrial electronics. Effective, reliable heat dissipation is critical because overheating is the leading cause of electronic equipment failure. Aavid has become a leader in the thermal management sector through a combination of advanced technical and design capabilities, comprehensive and reliable product offerings, and a global network of design centers and manufacturing facilities.
“We are very fortunate to have partnered with an outstanding management team at Aavid,” said Doug Hill, Managing Director of Nautic. “During the last two years the company has experienced exceptional growth thanks to the efforts of the team, the high-quality of Aavid’s products, and the secular trend toward hotter, more-powerful electronics that demand Aavid’s engineered thermal solutions.”
“I’ve been very pleased to work with Nautic,” said Alan Wong, Chief Executive Officer of Aavid. “During Nautic’s ownership, Aavid expanded its position in its core industries, developed good positions in exciting new markets, and strengthened its market leadership. This is an excellent outcome for Aavid’s shareholders, customers and employees, and we look forward to continued success.”
Edgeview Partners served as financial advisor to Aavid, while Edwards Wildman Palmer acted as legal counsel for the company.
About Nautic Partners
Founded in 1986, Nautic Partners is a middle-market private equity firm with over $2.5 billion of equity capital under management. The firm has completed over 110 transactions in partnership with management and delivered successful results to investors over three decades. Nautic targets equity investments of $25-$75 million, representing majority ownership in niche businesses with strong market share and growth potential, identified value enhancement opportunities and strong management teams. Areas of focus include business services, manufacturing, and healthcare. For more information, please visit www.nautic.com.
About Aavid Thermalloy
With nearly 50 years of product development, engineering innovation and manufacturing expertise, Aavid is the thermal management provider selected by the world’s leading technology companies for quality products and creative designs. Aavid’s global infrastructure includes manufacturing facilities and design centers located in North America, Europe and throughout Asia. Operating with more than 1,900 employees and utilizing global resources and a broad portfolio of manufacturing capabilities and engineering advancements, Aavid delivers quality products and creative designs worldwide.