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DiversiTech changes owners in $2.2bn deal

USA: Partners Group, a Swiss-based global private equity firm, has acquired US HVAC parts manufacturer and supplier DiversiTech in a $2.2bn deal.

The acquisition will leave the British global investment firm, Permira – which acquired the business in 2017 – and the current management led by CEO Andy Bergdoll as minority investors.

Founded in 1971 and headquartered near Atlanta, Georgia, DiversiTech is North America’s largest manufacturer of equipment pads and a leading manufacturer and supplier of components and related products for multiple industries. DiversiTech has 1,250 employees across 20 locations in the US, Canada, and the UK. 

In August, the Partners Group acquired Reedy Industries, an Illinois-based group of HVAC and mechanical services companies.

Andrew Oliver, Partners Group MD, private equity goods & products, said it was convinced  of DiversiTech’s future growth prospects “given the expanding installed base of HVAC equipment and the reoccurring demand for the company’s essential parts and supplies”.

Related stories:

DiversiTech changes owners18 April 2017
USA: Ownership of acr component manufacturer and supplier DiversiTech is set to transfer to private equity firm Permira after an acquisition deal was struck with current equity owner The Jordan Company. Read more…

DiversiTech in management buy-out20 May 2015
USA: The ownership of acr component manufacturer and supplier DiversiTech has changed following a management buy-out. Read more…

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