BOSTON, August 10, 2011 - C.W. Downer & Co., a leading global middle-market investment bank, is pleased to announce that Lydall, Inc. (NYSE:LDL) has completed the sale of Lydall Industrial Thermal Solutions, Inc. (“Affinity”) to Lytron, Inc., of Woburn, MA, USA. The transaction closed on June 29, 2011.
Affinity is a leading North American producer of highly engineered thermal management systems that precisely control the operating temperatures of advanced manufacturing equipment. Affinity's technically advanced systems are utilized by clients in the semiconductor equipment, commercial laser and industrial markets. Affinity further supports its customers by offering a global service network that provides routine maintenance and servicing for its large installed base of equipment. Lytron, Inc. manufactures custom and standard cold plates, heat exchangers, assemblies, and cooling systems for both OEMs and end users. Lytron's products are used in medical, laser, military, commercial aerospace, power electronics, analytical, and semiconductor applications.
“We are very pleased to have assisted Lydall with its successful divestiture of Affinity. This transaction is consistent with Lydall's strategy to focus on its core filtration and life sciences businesses,” said Paul Colone, Managing Director & Partner with C.W. Downer & Co. “Lytron's expertise in thermal management solutions made it an ideal strategic buyer for Affinity. The product lines and markets are complementary and the combined engineering and service organizations should provide enhanced value to both companies' global customers.”
The C.W. Downer transaction team responsible for the transaction included Paul Colone , Managing Director & Partner (Boston), Greg Fanikos, Vice President (Boston) and Jenny Chen, Analyst (Boston).
About C.W. Downer & Co.
C.W. Downer & Co. is an independent, global investment bank offering middle-market clients a high level of personal attention coupled with 35 years of international execution experience. We provide insight, not just information. We generate value, not just transactions. With seven fully integrated offices on four continents, we consistently identify the most appropriate strategic buyer and uncover “hidden” acquisition targets. C.W. Downer & Co. delivers the reach of a bulge-bracket investment bank with the senior level focus of a boutique. For more information, visit http://www.cwdowner.com.
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