Their focus on product development and global customer service is a great fit with Aavid’s strategy.
BOSTON, MA (PRWEB) July 02, 2014
Aavid Thermalloy (“Aavid”) announced it has acquired Nuventix. Headquartered in Austin, Texas, Nuventix designs, manufactures and distributes fanless thermal management solutions, including its patented Synjet technology, for LED lighting 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, “Aavid is very excited to be joining forces with Nuventix. Nuventix has developed cutting edge thermal management technologies and products since its inception. Their focus on product development and global customer service is a great fit with Aavid’s strategy. We look forward to growing Nuventix by leveraging its technology portfolio to create innovative solutions for our electronics and telecommunications customers.”
Jim Balthazar, President of Nuventix, said “Partnering with Aavid and Audax provides Nuventix 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.