COMPANY PROFILE / FUNCTIONAL MATERIALS
Tark Thermal Solutions (formerly Laird Thermal Systems)
— An unlisted thermal-management company built around thermoelectric modules, with cooling systems and pumps alongside
Laird Thermal Systems, long known as a major maker of thermoelectric (Peltier) modules, changed its name to Tark Thermal Solutions (TTS) on 5 May 2025. According to official sources, its owner is a fund advised by the investment firm BU Bregal Unternehmerkapital (headquartered in Zug, Switzerland), which announced a majority acquisition in 2021. This profile concentrates on the thermoelectric modules and the materials and manufacturing behind them, working from the company’s official site, its sustainability report and its investor’s announcements. The company is unlisted and does not publish its sales.
- Tark at a glance, and its place in functional materials
- Logo and naming
- Where the company sits in functional materials
- Company scale
- Resources committed to functional materials
- Track record
- Plans
- What the company appears to be aiming for
- Partnership map
- Technologies and products
- Risks
- Glossary / References / Claim-to-source audit
1. Tark at a glance, and its place in functional materials
Funds advised by BU Bregal UnternehmerkapitalMajority acquisition announced in 2021
(the Peltier effect)Also liquid cooling systems, pumps and temperature controllers
This is not “a maker of thermoelectric material.” It is a company that builds modules from thermoelectric elements and ceramic substrates, and cooling systems that use them Sourced. The official site describes a thermoelectric cooler as a solid-state heat pump that combines semiconductor thermocouples with ceramic substrates, but it does not state the composition of the elements (for example, a bismuth-telluride system) Not yet confirmed. The other point to grasp is the name and the owner. Within the official sources we checked, the current name is Tark Thermal Solutions and the owner is the BU fund Sourced.
2. Logo and naming
A note on naming: the current name is Tark Thermal Solutions (TTS). The former name was Laird Thermal Systems (LTS), and according to the company’s announcement the reason for the change was the expiry of the previous Laird name license agreement Sourced. We found no explanation of the origin of the new name in the official sources. It is the same as that of the U.S. company Tark Inc, acquired in 2024, but no link is explained. The company is also separate from its former parent group, Laird Group; by BU’s account, it became an independent business after Laird Group was acquired by Advent International in late 2018. Older documents and databases may still carry the former name.
Official site: https://tark-solutions.com/3. Where the company sits in functional materials
Tark can be classed as a components-and-devices maker Our calculation. The company describes its thermoelectric coolers (TECs), thermoelectric cooler assemblies (TEAs), liquid cooling systems, temperature controllers and specialty pumps as “one of the most diverse product portfolios in the industry” Sourced. In the field that our explainer “Thermoelectric materials” describes from the materials side, Tark stands on the side that turns the materials into modules and systems.
4. Company scale
Because the company is unlisted, no sales or profit figures are published. The figures that are published are below Sourced.
| Item | Detail | Type of source |
|---|---|---|
| Employees (headcount) | 521 in 2022, 498 in 2023, 533 in 2024 | Company report |
| Sites | Six: Rosenheim, Germany; Liberec, Czech Republic; Gothenburg (Västra Frölunda), Sweden; Shenzhen, China; North Carolina, U.S. (Durham); and Ohio, U.S. (pumps only) | Company site |
| Ownership | Funds advised by BU Bregal Unternehmerkapital announced a majority acquisition in 2021. BU’s April 2024 announcement again says that “BU will continue to accompany LTS on its growth path as a long-term partner” | Investor’s announcements |
| Sales and profit | Not disclosed. BU’s 2021 announcement mentions annual sales growth of about 10% in 2017 to 2020 and a staff of 460, but no amounts | Investor’s announcement |
| Certifications | The Shenzhen plant holds ISO 9001:2015 and IATF 16949:2016; the Liberec plant, ISO 9001:2015; and the North Carolina and Ohio sites, ISO 9001:2015. The company lists REACH, RoHS, UL, CE and UKCA product certifications or conformity (company statement) | Company site and report |
| Greenhouse gases (2024) | Scope 1 and 2 emissions were 2,828 t-CO2e in 2024. The SBTi-approved target is a 42% cut in Scope 1 and 2 by 2030 from a 2021 base year. The company attributes the 2024 increase mainly to the wider reporting boundary after acquiring Tark Inc | Company report |
The official site calls the company “the world leader in thermal management solutions” and says it is “the only company in the industry with such a comprehensive product family” Sourced. These are the company’s own words, with no statistics behind the rank or the uniqueness. We do not adopt them Not yet confirmed. The 2021 BU announcement’s phrase “the only company in its sector with a comprehensive product range” is likewise treated as the investor’s expression at the time.
5. Resources committed to functional materials
| Type of resource | What the sources show | Status |
|---|---|---|
| People | 533 employees (2024). The CEO, Max Kley, joined in April 2025 and the CTO, Sven Rosenbeiger, in January 2026. R&D headcount is not disclosed. In BU’s 2021 announcement, the R&D and technology centers were in Gothenburg, Durham and Shenzhen | Sourced |
| Money (capital expenditure) | US$5.5 million for a new “Global Thermoelectric Technology Center” in Durham, North Carolina (announced September 2026), which more than doubles U.S. production space for thermoelectric components. R&D spending and total capital expenditure are not disclosed | Sourced; the plan is not yet confirmed |
| Investments, acquisitions, joint ventures | In April 2024 it acquired Tark Inc of the U.S. (liquid cooling systems, pumps and heat exchangers; founded in 1985, in Dayton, Ohio, and Billerica, Massachusetts). In 2021 its owner changed from the Advent International side to BU’s funds. In May 2026 it joined AdvaMed, the medical-technology trade association | Sourced |
| Universities, research institutes, public funding | Not confirmed. Neither the official site nor the report mentions joint research with universities or public grants | Not confirmed |
Status of main products and facilities
| Product | Plant / facility | Scale | Stage | Date and source |
|---|---|---|---|---|
| Thermoelectric coolers (TECs) | Volume production in Shenzhen (China) and Liberec (Czech Republic); development and production in Durham (U.S.). BU’s 2021 announcement lists production sites in the Czech Republic and China | Capacity not disclosed | Operating | References 8, 12 https://tark-solutions.com/about/quality-commitment https://bregal.com/news/funds-advised-by-bregal-unternehmerkapital-agree-to-acquire-majority-stake-in-laird-thermal-systems |
| Global Thermoelectric Technology Center for thermoelectric components | Durham, North Carolina (leased) | More than 5,300 sq. ft.; U.S. production space more than doubles; includes controlled-environment rooms for highly automated semiconductor-type processes | Plan; move expected in early 2027 (Not yet confirmed) | Reference 9 https://tark-solutions.com/TTS_Expands_U.S._Manufacturing_Operation_New_Global_Thermoelectric_Technology_Center |
| Liquid cooling systems and pumps | Miamisburg, Ohio (pumps only), and others | Not disclosed | Operating (added through the Tark Inc acquisition in 2024) | References 1, 13 https://tark-solutions.com/about-tark-thermal-solutions https://bregal.com/news/bu-portfolio-company-laird-thermal-systems-joins-forces-with-american-pumps-and-cooling-systems-manufacturer-tark-inc |
6. Track record
| When | What happened | Why it matters |
|---|---|---|
| 2005 to 2013 | Formed as a subsidiary of Laird Group through repeated acquisitions (BU’s account) | From scattered thermal businesses to a single company |
| Late 2018 | Laird Group was acquired by Advent International, and the company became an independent business (BU’s account) | A change of parent |
| July 2021 | Funds advised by BU announced a majority acquisition (BU’s announcement) | The start of the current ownership structure |
| April 2024 | Acquired Tark Inc of the U.S. (liquid cooling systems, pumps, heat exchangers) | Wider U.S. presence and product range |
| April 2025 | Max Kley became CEO | A change of management |
| 5 May 2025 | Renamed from Laird Thermal Systems to Tark Thermal Solutions | Triggered by the expiry of the name license; the company says its product lines are unchanged |
| August 2025 | Presented next-generation active cooling for optical transceivers and image sensors at CIOE 2025 (Shenzhen) | Optical communications and sensing as priority markets |
| May 2026 | Joined AdvaMed, the U.S. medical-technology trade association | A stronger approach to medical and life-science markets |
| September 2026 | Announced the new Durham site (US$5.5 million) | Expansion of thermoelectric production in the U.S. |
7. Plans
All of these are company plans, not achieved results Not yet confirmed. In its May 2026 announcement the company said, one year after the rename, that thermal management is no longer a supporting function but increasingly defines how systems are designed and what they can achieve, and it names AI infrastructure, data centers, telecom and medical as opportunities Sourced (this is the company’s view of the market, which we have not verified).
None of the following appears in the primary sources we reviewed Not yet confirmed.
Sales and profit / production capacity of thermoelectric modules / the composition and sourcing of the elements / customer names / BU’s current stake and any exit plan / joint research with universities or public bodies / the origin of the new name.
8. What the company appears to be aiming for
This section includes points the company does not state directly. They are inferences from the primary sources, shown with their basis.
| What can be read | Primary-source basis | Status |
|---|---|---|
| The growth axis of its thermoelectric modules is optical communications, sensing and data centers | The CIOE 2025 announcements (optical transceivers, image sensors, LiDAR and others) and the stated purpose of the new site (cooling of optical transceivers, sensors) | Sourced |
| It is strengthening a direction of offering whole cooling systems, not just modules | The 2024 acquisition of Tark Inc (liquid cooling, pumps, heat exchangers) and the company’s statement that heat should be considered early in design | Sourced (the assessment of direction is an inference) |
| It intends to thicken U.S. manufacturing and development | The new Durham site (US$5.5 million, production space more than doubled). BU also described the Tark Inc deal as aimed at expanding in the U.S. | Sourced |
| The BU funds still own it | The 2021 majority acquisition, the 2024 reference to a “long-term partner,” and the site’s reference to giving through Bregal portfolio companies | Inference (the current stake is unconfirmed) |
The company’s sustainability page says that the Bregal Helps Initiative is a charitable fund set up by partners of Bregal Investments and gives grants through Bregal portfolio companies, and that Tark employees take part as volunteers Sourced. From this we read that, as of 2026, the company still presents itself as owned by a Bregal-related fund. However, we found no primary source that states the current stake (whether it is still a majority, or whether a sale is planned), so this remains an inference Not yet confirmed.
9. Partnership map
10. Technologies and products
The summary below follows the company’s official site (figures are manufacturer’s stated values) Sourced.
| Area | What the official site says |
|---|---|
| Thermoelectric coolers (TECs) | Solid-state heat pumps using the Peltier effect. A standard single-stage cooler can achieve a temperature difference of up to 70°C, in footprints from 2 x 2 mm to 62 x 62 mm. A multistage cooler in vacuum can reach down to minus 100°C, and temperature can be held to ±0.01°C under steady-state conditions. Intended for cooling capacities below 600 W. The tabulated specifications are given at a hot-side temperature of 27°C, except for the ETX, HTX and PCX series, which are given at 50°C, so figures for series with different conditions cannot be compared side by side |
| TEC series | Annular (center hole), CP, HiTemp ETX (high temperature), Multistage MS, OptoTEC OTX and HTX (temperature stabilization of optoelectronics), PowerCycling PCX (long life under thermal cycling), PolarTEC PT and UltraTEC UTX. Finishing options: standard, lapped, gold plating, pre-tinned and metallized; sealant: none, epoxy or RTV |
| Thermoelectric cooler assemblies (TEAs) | Cooling units that combine a thermoelectric cooler with heat-dissipation parts and the like |
| Liquid cooling systems, pumps, temperature controllers | Liquid cooling systems for high heat loads, specialty pumps that move fluid, and controllers that regulate and stabilize temperature. Natural-refrigerant recirculating chillers (the EFC series) are also offered |
| Applications | Medical and diagnostic devices, analytical and laboratory equipment, industrial equipment, data centers and telecom (optical transceivers), LiDAR and others |
| Energy harvesting | The page says a thermoelectric cooler can also be used in reverse to turn waste heat into DC power. No business scale is given |
A thermoelectric cooler is a structure in which semiconductor thermocouples (n-type and p-type elements) are sandwiched between ceramic substrates; when direct current flows, one face gets cold and the other hot Sourced. What stands out in the company’s material is that specifications are given under conditions such as the hot-side temperature (27°C or 50°C). The performance of a thermoelectric material (ZT) changes with temperature, and the maximum temperature difference and cooling capacity of a module also depend on the hot-side temperature, the current, and how the substrates, joints and seals are made. Figures such as “up to 70°C” or “minus 100°C” cannot be compared without knowing whether the cooler is single-stage or multistage, in vacuum or in air, and what the hot-side temperature is.
The other point is life under thermal cycling. When a thermoelectric module is repeatedly cooled and heated, the difference in thermal expansion between the elements and the ceramic puts fatigue on the joints. That the company offers a PowerCycling series (PCX) for long life under thermal cycling and a HiTemp series (ETX) for high temperature as separate lines, with a choice of finishes (metallization, gold plating, pre-tinning) and sealants (epoxy, RTV), suggests that it handles this kind of degradation by product line. However, the element material (whether bismuth-telluride based), the joining materials and the life-test conditions are not stated on the official pages, and anything beyond this is inference Not yet confirmed. See also our explainer “Thermoelectric materials.”
11. Risks
| Risk | Detail | Status |
|---|---|---|
| Hard to verify from outside | Sales, profit, capacity and customers are not published, so there is no way for outsiders to check the size or direction of the business | Sourced |
| Brand switch | Because the license to use the Laird name expired, the company changed its name in 2025. Information under the old name and under the new one now coexists, and confusion is possible in procurement and design | Sourced (the possibility of confusion is an inference) |
| Change of management | A new CEO (April 2025) and a new CTO (January 2026) have taken office. Changes of direction may follow | Inference |
| Investment-fund ownership | A fund holds the majority (2021). Future changes in ownership cannot be foreseen from the primary sources | Sourced; outlook is an inference |
| Relocation of the new site | The Durham site is planned to be occupied in early 2027, and production and quality control during the move could be a challenge. The company says it will more than double U.S. production space for thermoelectric components | Inference |
| Material sourcing and regulation | The sources of the element materials, and regulatory handling of materials (such as lead and tellurium), are not in the primary sources, so we cannot assess them. The company states conformity with REACH, RoHS and similar | Sourced (assessment not confirmed) |
12. Glossary
- Thermoelectric cooler (TEC)
- A solid-state device that uses the Peltier effect: current makes one face cold and the other hot. It has no moving parts.
- Peltier effect
- The transport of heat from one side of a junction of dissimilar materials to the other when current flows (discovered in 1834).
- ΔT max
- The maximum temperature difference a module can produce. It changes with the hot-side temperature and other conditions.
- ZT
- The dimensionless figure of merit of a thermoelectric material. The larger it is, the higher the conversion efficiency. It varies with temperature.
- TEA
- Thermoelectric cooler assembly: a TEC combined with heat-dissipation parts into a cooling unit.
- OptoTEC
- Tark’s series of small thermoelectric coolers for temperature stabilization of optoelectronic components.
- SBTi
- The Science Based Targets initiative, which validates whether a company’s emission-reduction targets are consistent with climate science.
- IATF 16949
- The international quality-management standard for the automotive industry.
13. References
- Tark Thermal Solutions About Tark Thermal Solutions (business, product lines, sites). https://tark-solutions.com/about-tark-thermal-solutions
- Tark Thermal Solutions Press release, “One Year after Rebranding, Tark Thermal Solutions Builds on Its Legacy…,” 5 May 2026. States that the former name was Laird Thermal Systems and that the rename took place on 5 May 2025. https://tark-solutions.com/tark_thermal_solutions_one_year_after_rebranding
- Laird Thermal Systems (reprinted on I-Connect007) Press release, “Laird Thermal Systems Unveils New Identity,” 5 May 2025. The reason for the rename was the expiry of the previous Laird name license agreement. https://iconnect007.com/article/145203/laird-thermal-systems-unveils-new-identity/145200/ein
- Tark Thermal Solutions Sustainability Report 2024 (the first such report). Headcount, greenhouse gas emissions, certifications, the acquisition of Tark Inc. https://tark-solutions.com/sites/default/files/fields/media.file.field_media_file/2025-11/Tark_Thermal_Solutions_Sustainability_Report_2024.pdf
- Tark Thermal Solutions Sustainability page (donations through the Bregal Helps Initiative and others). https://tark-solutions.com/about/sustainability
- Tark Thermal Solutions Executive Team (management and start dates). https://tark-solutions.com/about/executive-team
- Tark Thermal Solutions Thermoelectric Coolers (product series and general specifications). https://tark-solutions.com/products/thermoelectric-cooler-modules
- Tark Thermal Solutions Quality Commitment (sites certified to ISO 9001 and IATF 16949). https://tark-solutions.com/about/quality-commitment
- Tark Thermal Solutions Press release, “Tark Thermal Solutions Expands U.S. Manufacturing Operation with New Global Thermoelectric Technology Center,” 15 September 2026. https://tark-solutions.com/TTS_Expands_U.S._Manufacturing_Operation_New_Global_Thermoelectric_Technology_Center
- Tark Thermal Solutions Press release, “…Next-Gen Active Cooling for High-Performance Optoelectronics at CIOE 2025,” 25 August 2025. https://tark-solutions.com/Tark_Thermal_Solutions_CIOE2025
- Tark Thermal Solutions Press release, “Tark Thermal Solutions Joins AdvaMed,” 12 May 2026. https://tark-solutions.com/Tark_Thermal_Solutions_Joins_AdvaMed
- BU Bregal Unternehmerkapital News, “Funds advised by BU agree to acquire majority stake in Laird Thermal Systems,” 19 July 2021. The site showed an expired TLS certificate when we accessed it. https://bregal.com/news/funds-advised-by-bregal-unternehmerkapital-agree-to-acquire-majority-stake-in-laird-thermal-systems
- BU Bregal Unternehmerkapital News, “BU portfolio company, Laird Thermal Systems, joins forces with … Tark Inc,” 15 April 2024. The site showed an expired TLS certificate when we accessed it. https://bregal.com/news/bu-portfolio-company-laird-thermal-systems-joins-forces-with-american-pumps-and-cooling-systems-manufacturer-tark-inc
14. Claim-to-source audit
| Claim in the text | Status | Source |
|---|---|---|
| The current name is Tark Thermal Solutions, the former name was Laird Thermal Systems, and the rename date was 5 May 2025 | Sourced | References 2, 3 https://tark-solutions.com/tark_thermal_solutions_one_year_after_rebranding https://iconnect007.com/article/145203/laird-thermal-systems-unveils-new-identity/145200/ein |
| The reason for the rename was the expiry of the previous Laird name license agreement | Sourced (company announcement) | Reference 3 https://iconnect007.com/article/145203/laird-thermal-systems-unveils-new-identity/145200/ein |
| Business, product lines and the six sites | Sourced | Reference 1 https://tark-solutions.com/about-tark-thermal-solutions |
| Headcount (2022 to 2024), greenhouse gas emissions, SBTi target, certifications, the acquisition of Tark Inc | Sourced (company report) | Reference 4 https://tark-solutions.com/sites/default/files/fields/media.file.field_media_file/2025-11/Tark_Thermal_Solutions_Sustainability_Report_2024.pdf |
| Start dates of the CEO and CTO | Sourced | Reference 6 https://tark-solutions.com/about/executive-team |
| Thermoelectric cooler specifications (temperature difference, footprint, control accuracy), series names, finishing and sealant options, and test conditions (hot-side temperature) | Sourced (manufacturer’s stated values) | Reference 7 https://tark-solutions.com/products/thermoelectric-cooler-modules |
| Sites certified to ISO 9001 and IATF 16949 | Sourced (company statement) | Reference 8 https://tark-solutions.com/about/quality-commitment |
| The new Durham site (US$5.5 million, more than 5,300 sq. ft., move in early 2027) | Sourced (the plan is not yet confirmed) | Reference 9 https://tark-solutions.com/TTS_Expands_U.S._Manufacturing_Operation_New_Global_Thermoelectric_Technology_Center |
| Announcements at CIOE 2025 (optical transceivers, image sensors, LiDAR and others) | Sourced | Reference 10 https://tark-solutions.com/Tark_Thermal_Solutions_CIOE2025 |
| Joining AdvaMed (May 2026) | Sourced | Reference 11 https://tark-solutions.com/Tark_Thermal_Solutions_Joins_AdvaMed |
| BU’s funds’ majority acquisition (2021), independence under Advent in 2018, a staff of 460, and annual sales growth of about 10% | Sourced (investor’s announcement) | Reference 12 https://bregal.com/news/funds-advised-by-bregal-unternehmerkapital-agree-to-acquire-majority-stake-in-laird-thermal-systems |
| The acquisition of Tark Inc (April 2024) and BU’s staying on as a long-term partner | Sourced (investor’s announcement) | Reference 13 https://bregal.com/news/bu-portfolio-company-laird-thermal-systems-joins-forces-with-american-pumps-and-cooling-systems-manufacturer-tark-inc |
| The Bregal Helps Initiative (grants through Bregal portfolio companies) | Sourced | Reference 5 https://tark-solutions.com/about/sustainability |
| The May 2026 announcement (the role of thermal management, the company’s view of the market) | Sourced (company view) | Reference 2 https://tark-solutions.com/tark_thermal_solutions_one_year_after_rebranding |
| Tark’s type (components and devices) | Our calculation | Our own classification in this article |
| Sales, profit, capacity, element materials, customer names and BU’s current stake | Not yet confirmed | Not disclosed or not stated; we do not estimate them. Reference 1 https://tark-solutions.com/about-tark-thermal-solutions |
| University joint research and public funding | Not yet confirmed | Not confirmed; we do not assert that none exist. Reference 1 https://tark-solutions.com/about-tark-thermal-solutions |
| The move to the Durham site and any sales target | Not yet confirmed | Company plans, not achieved results. Reference 9 https://tark-solutions.com/TTS_Expands_U.S._Manufacturing_Operation_New_Global_Thermoelectric_Technology_Center |
| The phrases “world leader” and “the only company with such a comprehensive product family” | Sourced (company’s words; not adopted because no basis is shown) | References 1, 2 https://tark-solutions.com/about-tark-thermal-solutions https://tark-solutions.com/tark_thermal_solutions_one_year_after_rebranding |
| That the growth axis is optical communications, sensing and data centers, and that it is strengthening system-level offers | Inference | Our own reading of the CIOE 2025 announcements, the new-site description and the Tark Inc acquisition |
| That the BU funds still own the company | Inference | Our own reading of the 2021 and 2024 announcements and the company site’s text |
| Risks from the brand switch, change of management and relocation | Inference | Our own reading of the rename, appointments and relocation plan |
Last updated: 10 October 2026 / Troy Technical
This article rests on Tark Thermal Solutions’ official site and press releases, its Sustainability Report 2024, and announcements by its investor BU Bregal Unternehmerkapital. The company is unlisted and publishes no sales, profit or other financial information. We use no market-research estimates or press-report figures. Thermoelectric cooler specifications are manufacturer’s stated values, and the test conditions (hot-side temperature) differ between series. Passages marked “Inference” are our own reading of the primary sources and are not statements by the company.