Advent International sells global thermal management solutions developer, Laird Thermal Systems, to Bregal Unternehmerkapital

  • Under Advent’s ownership, Laird Thermal Systems became a successful standalone business with high quality products, services and engineering
  • Bregal is committed to accelerating the pace of positive operational change and growth in the business

London, UK, July 23, 2021 – Advent International (“Advent”), one of the largest and most experienced global private equity investors, today announced that it has signed an agreement to sell Laird Thermal Systems (LTS) to Bregal Unternehmerkapital (“Bregal”), a leading global private investment firm.

LTS designs and manufactures high-performance, mission-critical active thermal management solutions, primarily for medical and life sciences end-markets. Under Advent’s ownership, LTS has grown to become a successful standalone business with high quality products, services and engineering, staffed with a high calibre team that is driven and motivated to take the business to the next level. Since 2018, Advent has heavily invested in LTS’s technology capabilities and innovation, a strategy that has delivered top line growth of 10% CAGR and EBITDA growth of 28% CAGR during that period.

Bregal is a global family-backed investor that provides long-term entrepreneurial capital, supporting successful companies in their further development. The business is interested in market leaders that are “hidden champions” in their fields and that have strong management teams. With €4 billion in assets under management, Bregal focuses on mid-sized companies across a wide range of sectors in Germany, Austria, Switzerland and Northern Italy within the automotive, business services, consumer, chemicals, e-commerce, healthcare, industrials, media, telecommunications and software sectors. Together, Bregal employs over 13,500 people and generates annual revenues in excess of €2.9 billion.

Francesco Casiraghi, Managing Director at Advent, commented: “After becoming an independent business, Laird Thermal Systems has continued to go from strength to strength and is now a well-recognised global player in the markets in which it operates. We believe Bregal has the expertise and track record to create lasting value and can effectively support Laird Thermal Systems in its next phase of growth.”

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 375 private equity investments across 42 countries, and as of March 31, 2021, had €64 billion in assets under management. With 14 offices in 11 countries, Advent has established a globally integrated team of over 240 private equity investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology. After 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

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