The Laird Group PLC has acquired Trenton, N.J.-based Melcor Corp., a provider of thermoelectric coolers, and its Chinese subsidiary, Melcor Hua Yua, in an all-cash deal for $17.4million plus $2.6million for the purchase of a third-party minority interest in Melcor's Chinese joint venture. The purchase expands Laird’s portfolio of thermal management products and strengthens its ability to provide thermal management solutions to a broad range of markets.
“Melcor is a leader in thermoelectric module manufacturing and technology, and its products provide access to end-user markets, which increase Laird’s Thermal Product presence in the medical, consumer and industrial sectors, as well as provide an expanded range of thermal management solutions to serve the telecom, automotive and IT sector,” said Michael Dreyer, vice president and general manager of Laird’s Thermal Products Division.
“Buying Melcor represents another step in our strategy of establishing leading positions and key technologies in our core markets through acquisitions,” said Peter Hill, CEO of Laird. “The acquisition provides us with additional technology to develop next-generation thermal management products and equip our customers with the solutions they require to deal with the ever-increasing impact of thermal management issues.”
Melcor and its management will be integrated into Laird Technologies’ fast growing Thermal Management business. Melcor also will benefit from the product development and application engineering resources, and greater global customer and support presence of Laird Technologies.