Harris Williams & Co. Advises Wakefield Thermal Solutions in its Sale to The Heico Companies, LLC
Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of Wakefield Thermal Solutions (Wakefield), a global leader in thermal management solutions, to an affiliate of The Heico Companies, LLC (Heico). Wakefield was a portfolio company of Longroad Asset Management (Longroad). Harris Williams & Co. acted as the exclusive advisor to Wakefield. The transaction closed on February 27, 2012 and was led from the firm’s Boston office.
“We are thrilled to have represented Wakefield and Longroad in this transaction,” said Jay Hernandez, a director in Harris Williams & Co.’s Boston office. “Wakefield is truly a unique business that brings to bear its strong expertise to produce superior thermal management products for customers’ mission critical applications. We believe its acquisition by Heico will further enhance its opportunity to continue to grow.”
Wakefield, headquartered in Pelham, NH, is an international provider of highly engineered thermal management solutions and products for technical and industrial applications. Through its Thermovations™ group, Wakefield custom designs and manufactures thermal management solutions to dissipate heat and protect system integrity for critical applications in the industrial, medical, electronics, aerospace and defense markets.
Longroad is a private equity firm with over $500 million in committed capital dedicated to investing in restructurings, turnarounds and other special situations. Longroad invests across industries in opportunities where it can enhance value through active ownership, utilizing the operating and financial restructuring expertise of its principals to improve the performance of its portfolio companies.
Founded in 1979, Heico seeks to acquire businesses where it can leverage its management team, experience and diversification to create value. An aggressive acquisition program coupled with internal growth has resulted in a portfolio of more than 35 companies with aggregate sales of more than $2 billion. Heico owns companies within a diverse set of industries including telecommunications, aerospace, construction, food production and material handling equipment. These businesses, which operate throughout the United States and several international locations, produce a wide array of products, systems and services.