Mat Savage, who has worked for Aavid Thermalloy for eight months, nickel-plates components by dunking them into a series of chemical solutions. (Adam Drapcho/Laconia Daily Sun)
Laconia tech company employs 150 locally
By RICK GREEN, LACONIA DAILY SUN
LACONIA — An international high technology company headquartered in Laconia has been purchased by a California corporation, but no major workforce changes are expected.
David Wall, chief financial officer for Aavid Thermalloy, said Wednesday the terms of its acquisition by Boyd Corporation, of Modesto, have not been released. Both companies are privately held.
Aavid employs 2,400 people, including 150 in Laconia. Its products are used to dissipate heat in computers, telecommunications equipment and a wide range of products.
It bills itself as “the oldest and largest design, engineering and manufacturing corporation focused on thermal management solutions in the world.”
Wall said strong research and development and design centers throughout the world are two important facets of the company. Aavid becomes a subsidiary of Boyd.
“The two companies are very complementary to each other,” he said. “It’s a win, win for both companies.”
No reductions in force are expected.
“The owners will dictate how we go,” he said. “They bought us for strengths in our products and people, so we don’t see anything changing. There continues to be growth.”
The company began as Aavid Engineering in 1964 on Arch Street in Laconia, which at that time was called Cook Court. It now operates out of a 180,000-square-foot facility at 1 Aavid Circle.
In 2014, on the company’s 50th anniversary, Arthur Karageorges, Aavid project manager, said it had grown from shipping $1 million a month in products in 1984 to shipping $1 million in products per day.
Aavid has manufacturing and engineering facilities in North America, Europe and Asia.
Locally, the company has worked with the Huot Regional Technical Education Center and Lakes Region Community College to foster opportunities for young people to work in advanced manufracturing.
“We are extremely excited to be coming together with Aavid, a true market leader in thermal management solutions,” Boyd Corporation President and CEO Mitch Aiello said.
“The integration of technology into today’s products is increasing at incredible rates across both traditional and non-traditional applications like network solutions, telematics, commercial lighting and avionics. Effective heat management continues to be critical to design innovation. Aavid has developed a powerful combination of technical talent and market brand-equity, both of which we plan to maintain and rely upon as we move the combined business forward and help fortify Boyd’s foundational commitment to solving customers’ energy management challenges.”
Phil Arvid Johnson, a digital equipment engineer, founded the company in his garage on Arch Street.
Karageorges said Johnson came up with the name Aavid based on his middle name but changed the “R” to an “A” to make sure Aavid would be first in the telephone book directory.
Kenny St. Jacques, who once owned and operated the Boulevard Drive-In restaurant joined Aavid in the early 1970s, working in operations, while Johnson worked in sales.
The company once had a warehouse where Hector’s Fine Food and Spirits is now located in the downtown area.
Joseph Nicolato, vice president and general manager for the North American operations of Aavid Thermalloy, examines a rack of recently manufactured heat transfer units. (Adam Drapcho/Laconia Daily Sun)
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