Daily News: March 5, 2012

Harris Williams Advises Wakefield Thermal in Sale to Heico Affiliate


Harris Williams & Co., a middle-market investment bank focused on the advisory needs of clients worldwide, announced the sale of Wakefield Thermal Solutions, a provider in thermal management solutions, to an affiliate of The Heico Companies, LLC. Wakefield was a portfolio company of Longroad Asset Management. 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.

Founded in 1979, Heico seeks to acquire businesses where it can leverage its management team, experience and diversification to create value.

Harris Williams & Co., a member of The PNC Financial Services Group, Inc., is a preeminent middle-market investment bank focused on the advisory needs of clients worldwide.