News Article

Nuventix is acquired by a New Hampshire company
Date: Jul 03, 2014
Source: bizjournals ( click here to go to the source)

Featured firm in this article: Nuventix Inc of Austin, TX

A New Hampshire company has acquired Nuventix Inc. just weeks after Nuventix completed a Series F round of financing.

Austin-based Nuventix — which has raised at least $55 million in investment capital since launching — does not list the deal on its website, but Aavid Thermalloy LLC announced the acquisition with a Tuesday news release. Financial terms of the deal were not disclosed.

Aavid, founded in 1964, develops thermal management solutions, including heat sinks, heat pipe assemblies and cold plates for several industries.

Nuventix, which was founded in 2005 as Innovative Fluids Inc., develops a cooling device for electronics products. The company employed 37 workers in 2012, the last time headcount could be confirmed.

In March of that year, it reported raising $6.9 million of a planned $10 million Series E round of funding from 12 investors. The financing increased to $50 million the amount of investment capital the company had received since launching, officials said.

Company investors include New York-based Braemar Energy Ventures, Dallas- and Austin-based CenterPoint Ventures, California-based InterWest Partners LLP, New York-based Rho Ventures, Minnesota-based Bergquist Co. and the General Electric Co. (NYSE: GE).

Last month, Nuventix reported raising more than $4.9 million of a planned $5 million round of funding from 14 investors. The financing was an update to an October 2013 filing in which Nuventix reported raising $2.6 million of the $5 million target, according to filings with the U.S. Securities and Exchange Commission.