Nautic Partners sells Aavid Thermalloy to Audax
Nautic Partners has completed the sale of Aavid Thermalloy to an investor group led by Audax Private Equity.
The terms of the transaction have not been disclosed.
Headquartered in Concord, New Hampshire, Aavid is a 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.
“We are very fortunate to have partnered with an outstanding management team at Aavid,” says Doug Hill (pictured), 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,” says 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 adviser to Aavid, while Edwards Wildman Palmer acted as legal counsel for the company.
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