Sale to Boyd Corporation

Industrial
Sale to Boyd Corporation

Summary

Baird served as lead financial advisor to Aavid Thermalloy, LLC on this transaction

About

Aavid Thermalloy, LLC (“Aavid” or the “Company”), a portfolio company of Audax Private Equity (“Audax”), was recently acquired by Boyd Corporation (“Boyd”), a portfolio company of Genstar Capital, LLC (“Genstar”). Terms of the transaction were not disclosed.

Founded in 1964, Aavid is the leading global designer and manufacturer of advanced thermal management (“TM”) solutions for high-performance applications where reliability, innovative engineering and speed to market are paramount. Aavid’s products span the full spectrum of custom and catalog high-value TM solutions, ranging from board-level cooling to high-power industrial applications. Aavid’s unparalleled application expertise and global engineering and manufacturing capabilities position it to deliver best-in-class, local customer service and support across a diverse range of end markets including telecom, enterprise server, LED lighting, aerospace & defense, consumer electronics, power and industrial / transportation. Aavid is headquartered in Laconia, New Hampshire.

Since its founding in 1999, Audax Private Equity has been focused on building leading middle market companies. Audax has invested $4 billion in 104 platform and 565 add-on companies. Through a disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. Audax Private Equity is an integral part of Audax Group, an alternative asset management firm specializing in investments in middle market companies. With offices in Boston, New York, and Menlo Park, Audax Group has over $11 billion in assets under management across its Private Equity, Mezzanine, and Senior Debt businesses. Audax is headquartered in Boston, Massachusetts.

Boyd is a global provider of precision-engineered, specialty material-based energy management and sealing solutions with specific expertise in engineering and design, manufacturing and supply chain management. Boyd operates in markets around the world and serves customers in electronics, mobile computing, medical technology, transportation, aerospace and other B2B and consumer-critical industries. For nearly 100 years, the Boyd brand has represented stability, adaptability and vision along with employing the most experienced team in the industry. Boyd is headquartered in Modesto, California.

Genstar is a leading private equity firm that has been actively investing in high-quality companies for more than 25 years. Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar manages funds with total capital commitments of approximately $5 billion and targets investments focused on targeted segments of industrial technology, healthcare, financial services and software industries. Genstar is headquartered in San Francisco, California.
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Industrial
Sale to Boyd Corporation
Date
May 2017
Company
Aavid Thermalloy, LLC
Transaction
M&A
Sectors
Industrial
Target Location
North America
Acquiror Location
North America

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