Aavid acquires Niagara, expands markets

LACONIA — Aavid Thermalloy LLC has acquired Niagara Thermal Products LLC of Niagara Falls, NY, which has developed an extensive portfolio of thermal management solutions for customers in aerospace, defense, marine, industrial and alternative energy markets during the past 30 years.

The financial terms of the transaction were not disclosed.

Headquartered in Laconia, where it began in 1964, Aavid designs and manufactures thermal management products for telecommunications networks, data centers and consumer electronics as well as with applications in transportation and industry.

In a prepared statement, Alan Wong, chief executive officer of Aavid, said that Niagara Thermal Products “has a great reputation for providing mission-critical thermal management solutions to blue-chip customers, particularly in the aerospace and defense industries.”

He stressed that the firm’s expertise in design, engineering and manufacturing has earned it a reputation for quality, innovation and service.

“We are excited to join forces with Niagara, and to work with their experienced management team in expanding Aavid’s services in the aerospace, energy and defense markets,” he said.

Likewise, Barry Heckman, president and chief executive officer of Niagara Thermal Products, said “we look forward to seeing the Niagara and Aavid businesses, leaders in the respective markets, come together. Aavid,” he said, “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.”

Aavid is a portfolio company of the Audax Group, a leading investor in middle market enterprises with more than $9 billion in assets under management. Together with its headquarters in Laconia, Aavid operates regional offices in Hong Kong, Singapore and Germany; design and sales centers in California,Texas, Italy, Germany China, Taiwan and India; and manufacturing facilities in Wisconsin, Italy, China and India.