M&A Deal Summary

Laird Thermal Systems Acquires LS Research

On November 24, 2015, Laird Thermal Systems acquired technology hardware company LS Research from Lakeview Equity Partners for 55M USD

Acquisition Highlights
  • This is Laird Thermal Systems’ 6th transaction in the Technology Hardware sector.
  • This is Laird Thermal Systems’ 2nd largest (disclosed) transaction.
  • This is Laird Thermal Systems’ 5th transaction in the United States.
  • This is Laird Thermal Systems’ 1st transaction in Wisconsin.

M&A Deal Summary

Date 2015-11-24
Target LS Research
Sector Technology Hardware
Buyer(s) Laird Thermal Systems
Sellers(s) Lakeview Equity Partners
Deal Type Add-on Acquisition
Deal Value 55M USD
Advisor(s) Greene Holcomb & Fisher LLC (Financial)

Target

LS Research

Cedarburg, Wisconsin, United States
LS Research LLC is a provider of wireless technology platforms that provide the foundation for ground-breaking wirelessly –enabled industrial, commercial and consumer products. LSR’s product and service solutions for smarter, simpler wireless design and depth of experience in Wi-Fi®, Bluetooth®, BLE, RFID, NFC, 802.15.4, DECT, ZigBee® and cellular.

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Buyer(S) 1

Buyer

Laird Thermal Systems

Rosenheim, Germany

Category Company
Sector Manufacturing
Revenue 630M GBP (2015)
DESCRIPTION

Laird Thermal Systems designs and manufactures high-performance, mission-critical active thermal management solutions, primarily for medical and life sciences end markets. Laird Thermal Systems is based in Rosenheim, Germany.


DEAL STATS #
Overall 9 of 10
Sector (Technology Hardware) 6 of 7
Type (Add-on Acquisition) 8 of 9
State (Wisconsin) 1 of 1
Country (United States) 5 of 5
Year (2015) 1 of 2
Size (of disclosed) 2 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-15 Model Solutions

Seoul, South Korea

Model Solution is a South Korean company specialising in designing and manufacturing prototypes with expertise in injection moulding, finishing, UV coating and 3D printing and other prototyping competencies. Its customer base operates across a range of markets including mobile communications/computing, other consumer electronics, audiovisual products and medical devices.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-18 Novero

Bochum, Germany

Novero GmbH is a key supplier of integrated car connectivity with excellent hardware design and significant software development capabilities. Novero designs and manufactures; telematics control units, wireless charging modules, USB hubs, wireless signal enhancement solutions, and software applications that manage in-car connectivity systems. Together, these technologies enable telematics services including vehicle tracking for fleet management, driver behaviour monitoring, eCall emergency services, insurance tracking, vehicle diagnostics and vehicle remote control. The Volkswagen Group including its VW, Audi, Bentley and Skoda marques is a major customer.

Buy €65M

Seller(S) 1

SELLER

Lakeview Equity Partners

Milwaukee, Wisconsin, United States

Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 40M USD
Size Small
Type Sector Agnostic
DESCRIPTION

Lakeview Equity Partners is a small private equity fund that focuses on investments in Midwest-based lower middle-market companies. The Firm targets businesses valued from $5 to $50 million and that operate primarily in traditional industries. Lakeview Equity invests to support ownership changes, growth capital financings, and management buyouts. Sectors of interest include niche manufacturing, business services, food processing and packaging, specialty distribution, and financial services. Lakeview Equity is based in Milwaukee, Wisconsin.


DEAL STATS #
Overall 5 of 8
Sector (Technology Hardware) 1 of 1
Type (Add-on Acquisition) 4 of 6
State (Wisconsin) 3 of 4
Country (United States) 5 of 8
Year (2015) 2 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-01 Automatan

Plover, Wisconsin, United States

Automatan is a manufacturer of lithographic labeling equipment sold to the corrugated packaging industry worldwide. Automatan is based in Plover, Wisconsin.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-05 NutriScience USA

Milford, Connecticut, United States

NutriScience USA develops and markets branded, highly differentiated nutritional ingredients that are sold to a variety of customers including blue-chip supplement and wellness brands. NutriScience USA was founded in 1993 and is based in Milford, Connecticut.

Buy -