|[December 12, 2012]
Audax Group Announces the Acquisition of Aavid Thermalloy
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.
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 workig 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.
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