ShoreView Announces Sale of Niagara Thermal Products LLC
ShoreView is pleased to announce the successful sale of Niagara Thermal Products LLC (“NTP”) to Aavid Thermalloy, LLC. ShoreView partnered with NTP through a leveraged recapitalization in April 2008.
Prior to ShoreView’s investment, the institutional owners of NTP were seeking liquidity on their investments, and the management owners were seeking a strong financial partner to pursue significant growth opportunities. ShoreView structured a transaction that:
• Provided liquidity to NTP’s institutional owners
• Allowed management to retain day-to-day operating control of the business
• Structured a meaningful retained ownership position to the management owners
• Created an ownership incentive plan for key managers
The results of this partnership were excellent as ShoreView and NTP management completed two complimentary add-on acquisitions, expanded NTP’s product lines, and added key managers to the team. As a result, the company’s sales more than doubled during ShoreView’s ownership period.
About Niagara Thermal Products LLC
NTP is an industry-leading provider of highly engineered thermal management solutions. With over 25 years of experience, Niagara’s extensive product portfolio of heat exchangers, heat sinks, chassis enclosures, cold plates, and heat transfer fins serves major customers in the aerospace, defense, alternative energy, marine, and industrial markets.
About ShoreView Industries
ShoreView Industries, based in Minneapolis, manages $900 million in private equity funds. ShoreView invests in established, middle-market companies with operations in North America, across a wide range of industries. ShoreView structures a variety of acquisition, recapitalization and build-up transactions, typically in businesses with revenues ranging between $20 million and $300 million