Partnering with Aavid and Audax provides Allcast with additional resources to continue supporting our customers’ growth globally.
BOSTON, MA (PRWEB) July 02, 2014
Aavid Thermalloy (“Aavid”) announced it has acquired Allcast, LLC (“Allcast”). Headquartered in Allenton, Wisconsin, Allcast designs, manufactures and distributes aluminum die casting products for LED lighting, recreational vehicle, consumer, and industrial applications.
Aavid, headquartered in Laconia, New Hampshire, designs, manufactures, and distributes thermal management solutions, including heat sinks, heat pipe assemblies, and cold plates for telecommunications, server, consumer electronics, transportation, and industrial applications. Aavid sells its products through its global sales force, distributor network, and e-commerce platform. Aavid is a portfolio company of Audax Private Equity, a leading investor in lower-middle market companies.
Alan Wong, Chief Executive Officer of Aavid said, “Allcast is a market leader with a strong brand and reputation in the aluminum die casting market. We look forward to partnering with its management team to continue growing the business by providing a broader suite of solutions to our combined customer base.”
Mark Magnarini, President of Allcast, said “Partnering with Aavid and Audax provides Allcast with additional resources to continue supporting our customers’ growth globally. We look forward to working with Aavid and Audax as we continue to build the company.”
KPMG served as financial advisor, and Fredrikson & Byron, P.A. served as legal counsel, to Aavid.