“Cascadia was a perfect fit for our situation. We had an institutionally-backed high growth technology business selling to large international conglomerates – our value story was complicated and Cascadia did a terrific job articulating it and securing a successful outcome. Cascadia was extremely knowledgeable about our market and counter-party universe, and they were very sophisticated and hardworking throughout their representation of us in what evolved into a complex transaction.”
Case Study
Nuventix
Overview
- Nuventix designs, manufactures, and distributes thermal management solutions across a wide range of end markets globally.
- The Company’s diverse portfolio of intellectual property contains patents covering the only commercialized fan-less active cooling solution.
- Founded in 2005 by Georgia Tech researchers, Nuventix quickly established a strong foothold and wide-reaching customer base within the LED lighting thermal management sector, and is at an inflection point following the adaptation of its technology for more widespread use in the growing consumer electronics market.
- Nuventix recently landed design wins with some of the largest players in the consumer electronics industry and is in the process of rolling out a game-changing thermal management solution for small form factor products.
Situation
- The company’s institutional capital backers sought to explore a potential exit from their investment in Nuventix as older investors required liquidity per their fund charters due to the length of the investment hold period.
- The company was at an inflection point due to the rollout of its new consumer electronics focused product line and Nuventix’s investors needed a solution that valued the company’s future growth and strong IP portfolio.
Cascadia Process
- Cascadia developed marketing materials that positioned Nuventix’s value around its IP portfolio and future revenue streams.
- Cascadia identified the most likely buyers in a potential sale and provided a limited few pre-emptive looks at the opportunity.
- Cascadia also ran broader, yet targeted, global process in order to ensure a competitive bid environment for the company.
- AavidThermalloy, a portfolio company of the private equity firm The Audax Group, evolved into the preferred acquirer in the process and Cascadia – the combination of the two businesses provided significant upside due to customer synergies and manufacturing cost efficiencies.
- Cascadia structured a complex deal that afforded the best outcome for all investors in Nuventix.
