Sentio Partners has advised Austrian group, Miba AG, on the sale of US based Dau Thermal Solutions North America Inc. (“DTSNA”) to the existing management team. The US business based in New York State was considered non-core to Miba’s wider strategy and no longer met its investment criteria in terms of market focus and critical mass.
DTSNA was originally established in 2011 as a sales office but developed a manufacturing capability to service the North American market and now provides thermal management solutions to a number of leading businesses in the defence and healthcare sectors.
Over the past two years the business has been significantly restructured to establish a more coherent market strategy which saw revenues grow by 41% in the same period. Miba now leaves the business with significant opportunity and a clear direction for the future.
Miba were advised by Rory Wade and Matt Tollefson at Sentio, with Choate Hall & Stewart (Boston) providing legal advice. Debt funding to the management team was provided by The Credit Junction (New York).