Harris Williams & Co. Advises Wakefield Thermal Solutions in its Sale to The Heico Companies, LLC
March 01 2012 - 1:05PM
Business Wire
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.
Harris Williams & Co. (www.harriswilliams.com), a member of
The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent
middle market investment bank focused on the advisory needs of
clients worldwide. The firm has deep industry knowledge, global
transaction expertise, and an unwavering commitment to excellence.
Harris Williams & Co. provides sell-side and acquisition
advisory, restructuring advisory, board advisory, private
placements, and capital markets advisory services.
Investment banking services are provided by Harris Williams LLC,
a registered broker-dealer and member of FINRA and SIPC, and Harris
Williams & Co. Ltd, which is authorised and regulated by the
Financial Services Authority. Harris Williams & Co. is a trade
name under which Harris Williams LLC and Harris Williams & Co.
Ltd conduct business in the U.S. and Europe, respectively.
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