BOSTON--Aavid Thermalloy, LLC ("Aavid") announced it has acquired Niagara Thermal Products LLC ("Niagara"). Based in Niagara Falls, NY, Niagara is an industry-leading provider of highly engineered thermal management solutions. With over 25 years of experience, Niagara’s extensive product portfolio of heat exchangers, heat sinks, chassis enclosures, cold plates, and heat transfer fins serves major customers in the aerospace, defense, alternative energy, marine, and industrial 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 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 Group, a leading investor in middle market companies, which has over $9 billion in assets under management across its Private Equity, Mezzanine, and Senior Debt businesses.
Alan Wong, CEO of Aavid, said, "Niagara has a great reputation for providing mission-critical thermal management solutions to blue-chip customers, particularly in the aerospace and defense industries. Niagara’s reputation for quality, innovation, and customer service is built upon its manufacturing excellence and expert design and engineering capabilities. We are excited to join forces with Niagara, and to work with their experienced management team in expanding Aavid’s services into the aerospace, energy, and defense end markets.”
Barry Heckman, President & CEO of Niagara, said, "We look forward to seeing the Niagara and Aavid businesses, leaders in their respective markets, come together. We are proud of our broad offering of heat exchangers, cold plates, heat sinks, chassis, fin products and diverse in-house capabilities, which will complement Aavid’s robust manufacturing and design resources. Aavid will help accelerate our growth through its global footprint, and the combined company will benefit from a wider range of end market and customer opportunities.”