We are pleased to announce that our portfolio company, Laird Thermal Systems (“LTS”), a hidden champion in thermal management for medical technology and industrial applications, has acquired Tark Inc (“Tark”) to further expand into the USA.
Tark, founded in 1985 and headquartered in Dayton, Ohio, and Billerica, Massachusetts, offers liquid cooling systems, pumps, and heat exchangers that ensure efficient thermal management. Their products are mainly used in critical applications such as medical devices, data centers, and airport scanners. With high-quality and reliable products alongside unique technology, Tark has become a leading manufacturer in the field, supplying customers in medical and industrial end markets worldwide, including the USA, Germany, and Japan.
Funds advised by BU acquired a majority stake in LTS in September 2021. To date, the team has furthered the development of new products, focusing on innovative, sustainable thermal management solutions. Furthermore, the partnership has enabled the ability to make investments in production facilities and additional sales and marketing resources.
With the strategic acquisition of Tark Inc, LTS benefits from an expanded and complementary product offering in pumps and cooling systems, a strengthened presence in the US, and sales synergies through cross-selling in the joint customer base. The transaction strengthens LTS’s global market positioning and ability to respond to customers' highly complex challenges in the field of thermal management.
BU will continue to accompany LTS on its growth path as a long-term partner.
