BOSTON--(BUSINESS WIRE)--Audax Group announced it has acquired Aavid Thermalloy (“Aavid”). Headquartered in Concord, New Hampshire, Aavid is a designer and manufacturer of thermal management solutions for high-performance applications where reliability is paramount. Its solutions dissipate heat to prevent failure in a wide range of electronic and industrial systems. Aavid serves customers within telecommunications, enterprise systems, transportation, power, consumer and other end markets from its network of manufacturing facilities and design centers in North America, Europe, and Asia.
“We are excited to have Audax Group as our new partner as we embark on our next stage growth. Their experience working with middle market companies to source and integrate add-on acquisitions internationally will be an asset as we continue to build our business.”
Geoffrey S. Rehnert, Co-CEO of Audax Group, said “Aavid is a leading global provider of high-performance thermal management products. We look forward to working with Alan Wong and his team to grow the business geographically, through product line and end market expansion, and through strategic add-on acquisitions.”
Alan Wong, CEO of Aavid, said “We are excited to have Audax Group as our new partner as we embark on our next stage growth. Their experience working with middle market companies to source and integrate add-on acquisitions internationally will be an asset as we continue to build our business.”
Edgeview Partners advised Aavid. Kirkland & Ellis LLP served as counsel to Audax Group. GE Capital and RBS Citizens provided senior debt financing and funds managed by Oaktree Capital Management provided junior debt financing.
ABOUT AUDAX GROUP
Audax Group, founded in 1999, is a leading investor in lower-middle market companies. With offices in Boston and New York, Audax has over $5 billion in assets under management in its Private Equity, Mezzanine, and Senior Debt funds. For more information visit the Audax Group website www.audaxgroup.com.