Partners Group has agreed to acquire DiversiTech (or the Company) from funds advised by global private equity firm Permira. The investment values DiversiTech at an enterprise value of USD 2.2bn. As part of the transaction, Permira and management will remain minority investors in the Company.
DiversiTech is the North America’s manufacturer of equipment pads and a also the manufacturer and supplier of components and related products for multiple industries The Company serves over 6,000 customers through a broad product portfolio of c. 30,000 SKUs across six product families, including HVAC equipment mounting, electrical & replacement parts, condensate management and indoor air quality. DiversiTech has 1,250 employees across 20 locations in the US, Canada, and the UK.
Partners Group will draw on its extensive experience in the HVAC sector, including its August 2021 acquisition of Reedy Industries to partner with the company’s management team. Key value creation initiatives will include accelerating new product development, expanding through M&A, and bolstering internal manufacturing capabilities.