ADDING and REPLACING Aavid Thermalloy, LLC Announces the Acquisition of Thermacore, Inc.
October 18 2016 - 4:54PM
Business Wire
Add after last paragraph of release: Stifel, Nicolaus &
Company, Incorporated served as exclusive financial advisor and
Barley Snyder LLP served as counsel to Thermacore. Kirkland &
Ellis LLP served as counsel to Aavid.
The corrected release reads:
Aavid Thermalloy, LLC Announces the
Acquisition of Thermacore, Inc.
Aavid Thermalloy, LLC ("Aavid") announced it has acquired
Thermacore, Inc. ("Thermacore"). Based in Lancaster, PA, Thermacore
is a leading provider of high performance thermal management,
electronics cooling and materials solutions. Founded in 1970,
Thermacore’s extensive product portfolio of heat pipe assemblies,
spreaders, vacuum brazes, and cold plates serves major customers in
the aerospace, defense, power, industrial, government research and
development, server / data centers, and telecom markets.
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 aerospace and defense, telecommunication,
LED lighting, server, data center, 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. Audax Private Equity
is an integral part of Audax Group, an alternative asset management
firm with over $10 billion in assets under management across its
Private Equity, Mezzanine, and Senior Debt businesses.
Alan Wong, CEO of Aavid, said, "Thermacore is a leader in the
custom design, development, and manufacturing of highly engineered,
high-performance thermal management solutions. With over 100
patents awarded relating to heat pipes and electronics cooling and
an exceptional engineering staff, Thermacore adds significant
design and engineering capabilities to the base Aavid business. We
look forward to joining forces with Thermacore, and working with
their experienced management team to expand Aavid’s services in the
aerospace, defense, and medical end markets. We expect that Aavid
customers will benefit immediately from Thermacore’s recognized
expertise in products such as vapor chambers and k-Core and
Thermacore’s customers will benefit from Aavid’s broad range of
design and manufacturing capabilities with a global footprint.”
Jerome Toth, President & CEO of Thermacore, said, "We look
forward to joining our business with Aavid. Thermacore’s technical
expertise combined with Aavid’s manufacturing capabilities and
existing global sales channels create new opportunities for the
combined entity, which would not be available to either on a
standalone basis, enhancing the value we can bring to customers
across both businesses. We are proud of our ability to serve
customers in the aerospace, defense, and medical markets and the
value our employees bring to serving these markets; together this
will complement and broaden Aavid’s existing offering.”
Stifel, Nicolaus & Company, Incorporated served as exclusive
financial advisor and Barley Snyder LLP served as counsel to
Thermacore. Kirkland & Ellis LLP served as counsel to
Aavid.
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version on businesswire.com: http://www.businesswire.com/news/home/20161018006527/en/
Aavid Thermalloy, LLCAlan Wong, 1-603-223-1975CEO