“Our commitment is to work tirelessly to be the world’s leader in the thermal solutions industry,” Kreger said.
BusinessNH Magazine last year rated Wakefield-Vette as the third fastest-growing private company in New Hampshire.
The magazine reported the company employs more than 1,000 people and has facilities in North Carolina, Wisconsin, California and China, in addition to Pelham and New York.
Heico, the parent company, headquartered in Illinois, has $2 billion in assets with 35 businesses in 12 countries that specialize in manufacturing, construction and industrial services.
Heico’s website signals why it found the Pelham opportunity attractive.
“Heico prefers to acquire companies that possess significant market share as well as products or services that exhibit above-average opportunities for revenue and earnings growth,” the company’s profile said.
The business sector is experiencing mergers and acquistions, with New Hampshire on the front lines.
Audax Group of Boston announced in December the acquisition of a Wakefield-Vette competitor, Aavid Thermalloy, which is headquartered in New Hampshire with offices in Concord.
Aavid Thermalloy also said it is aiming to grow its market share.