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Audax Private Equity sells Aavid Thermalloy

Audax Private Equity has completed the sale of Aavid Thermalloy to Boyd Corporation, a portfolio company of Genstar Capital Management.

Aavid, founded in 1964 and headquartered in Laconia, New Hampshire, provides a broad range of technologically advanced thermal management solutions for aerospace and defence, telecommunications, LED lighting, server, data centre, consumer electronics, transportation, and industrial applications to customers globally.
Since 2012, Aavid has completed seven acquisitions, expanding its geographic footprint and diversifying into new technologies and end markets.
Geoffrey Rehnert, co-chief executive officer of Audax, says: “The Aavid team has executed on its thesis of accelerating organic growth through leading technical expertise and manufacturing capabilities, and by acquiring strategic assets with both new and complementary offerings. We are excited for the new opportunities available to the team through a combination with Boyd, and wish them continued success as new partners.”
Mitch Aiello, chief executive officer of Boyd, says: “We are thrilled at this opportunity to partner with the Aavid team to provide our combined customer base the best of both businesses. Aavid’s manufacturing and technological capabilities will be a valuable complement to our world-class supply chain and global distribution channels. The talent, reputation, and expertise of Aavid will go a long way to strengthen Boyd’s global market leadership.”

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