Laird Technologies Acquires Klüver Aggregatebau GmbH

10th March 2011

ES Admin

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Laird Technologies, Inc., a global leader in the design and supply of customized performance-critical components and systems for advanced electronics and wireless products, today announced its acquisition of Klüver Aggregatebau GmbH. Klüver’s revenues for the fiscal year ending December 31, 2010 were €13.0M ($17.9M). The transaction is expected to formally close by March 31, 2011.

The purchase expands the scope of Laird Technologies’ thermal management business into compressor-based temperature control systems for usage in medical, telecommunications, and other end-use markets. This expansion is very complementary to Laird Technologies’ already broad product lines, including thermoelectric modules and assemblies, serving these applications. With the acquisition of Klüver, Laird Technologies becomes one of the only companies offering a complete choice of solutions to these complex and critical temperature control applications.

“This addition enhances our approach to strategic markets, especially medical where we have focused in the last few years with our thermoelectric modules and assemblies capabilities,” said Tom Cochran, President of Laird Technologies Performance Materials Division, which includes the Thermal Materials & Systems Business Unit.

Klüver was founded in 1973 by Jens Klüver to design and make compressor-based cooling systems for digital x-ray systems for medical applications, and this is the core business today. Klüver is based in Kaltenkirchen in Schleswig-Holstein in the north of Germany, approximately 30 minutes from Hamburg.

“We are a leader offering thermoelectric-based cooling systems to medical, telecommunications and other applications and with the compressor-based systems of Klüver we will give our customers the option of either technology,” said Michael Sutsko, Vice President and head of Laird Technologies Thermal Materials & Systems Business. “We intend to globalize the Klüver business, offering the products to all of our customers.”

Jens Klüver, Klüver’s owner and CEO said, Laird is a global company with an enviable reputation, and is the ideal partner to take Klüver’s products and technology to a wider market. Laird's global operational capabilities and access to growing international markets are a significant advantage for the development of the business.

Klüver will become part of Laird Technologies’ Thermal Materials & Systems Business.