Aavid Corp, a portfolio company of U.S. private equity firm Audax Private Equity, has acquired Qfinsoft Technology Inc. The financial details of the transaction were not disclosed. Based in Rossland, British Columbia, Qfinsoft is a developer of software for the simulation of fluid flow, thermodynamics, and combustion processes. The company was founded in 2002. Headquartered in Laconia, New Hampshire, Aavid is a designer and manufacturer of thermal management solutions. It was acquired by Audax in late 2012.
Aavid Acquires Qfinsoft Technology
BOSTON, May 27, 2015 /PRNewswire/ — Aavid Corporation (“Aavid”) announced it has acquired Qfinsoft Technology Inc. (“Qfinsoft”). Based in Rossland, BC, Canada, Qfinsoft specializes in developing software for the simulation of fluid flow, thermodynamics, and combustion processes. Its Qfin software is widely used in fluid flow and thermal management applications and its Qled software is the only product of its kind for solid state lighting applications. Additionally, Qfinsoft provides technical consulting and simulation services associated with its products.
Aavid, founded in 1964 and headquartered in Laconia, New Hampshire, through its global network of manufacturing and design centers, provides a broad range of technologically advanced thermal management solutions for telecommunication, enterprise-class computers, consumer electronics, transportation, and industrial applications to customers all over the world. Aavid is a portfolio company of Audax Private Equity, a leading investor in middle market companies, which has over $6 billion in assets under management across its Private Equity, Mezzanine, and Senior Debt businesses.
Alan Wong, Chief Executive Officer of Aavid, said, “Qfinsoft is a technology leader in the modeling of physics and transport processes in specialized components such as LED’s, heat sinks, heat pipes, liquid cold plates and other thermal management products. Qfinsoft has collaborated with Aavid for over a decade to develop specialized models for such thermal management technologies and provides an excellent platform for our customers to apply our new products like pulsed jets. Qfinsoft’s software and world class customer service will further expand Aavid’s products and services to the benefit of our customers. We are excited to have the Qfinsoft team join Aavid.”
Jan Visser, Founder and President of Qfinsoft, said, “Joining Aavid will allow our software products to expand globally to serve the growing needs of worldwide electronics markets. Our products are uniquely designed to enable rapid design of custom cooling solutions taking advantage of proven embedded models of Aavid’s thermal management technologies. We are pleased to partner with the Aavid team to expand our business geographically and across new markets.”
Contact: Dr. Sukhvinder Kang, Chief Technology Officer, Aavid Corporation, 1-603-223-1811
Photo courtesy of Aavid Corp