ACR-News
Know what you want? Try our 'Supplier Directory' 

Permira funds to acquire DiversiTech

Global private equity firm Permira has announced that a company backed by Permira funds has signed a definitive agreement to acquire DiversiTech, a leading aftermarket manufacturer and supplier of highly engineered components for residential and light commercial heating, ventilating, air conditioning and refrigeration, from an affiliate of The Jordan Company LP. 

As part of the transaction, the senior management team led by Jim Prescott, president and ceo, will remain significant owners of the company.

Established in 1971, DiversiTech is the largest consolidator of the HVACR aftermarket with the broadest product offering in the space, including a wide range of mechanical, electrical, chemical and structural parts and accessories critical to HVACR and electrical technicians. With more than 150 product categories, including a range of proprietary manufactured products, DiversiTech serves over 4,500 customers looking for a one-stop-shop solution to consolidate their purchasing and streamline supply channels.

Permira will draw on its significant global experience in backing value-added manufacturing and distribution companies to help DiversiTech expand its product offerings and geographical footprint, both organically and through acquisition opportunities. 

Jim Prescott said: “We are thrilled to partner with Permira as we continue to capitalise on our organic growth opportunities and significantly expand our business. The Permira funds have an extensive track record of successful investments within the industrial space and this transaction demonstrates Permira’s confidence in DiversiTech’s growth potential, engineering excellence and outstanding customer service.”

Permira partner John Coyle said: “DiversiTech has a well-earned reputation as the HVACR components leader, providing a critical role at the intersection of an industry that is marked by a highly diversified manufacturing base and technician end market.  The company’s ability to offer the widest product offering of time sensitive components with the highest levels of customer service to wholesalers is unmatched. We are excited to be backing the over 500 employees of DiversiTech as they build on the company’s scalable platform and expand its leadership positions.”

Jim Prescott added: 'The Jordan Company LP has been a transformational partner for DiversiTech over the last two years as we completed eight acquisitions while continuing to invest heavily in our internal operations and management talent. Their collaborative partnership approach truly helped us get to the next level.'

The transaction is subject to customary regulatory approvals and closing conditions and is expected to close in the second quarter of this year.

The IOR Annual Conference – a conference on-demand

Delegates to the IOR Annual Conference taking place from 21 to 22 April will get the chance to access the event live and all sessions and recordings for up six months afterwards providing fantastic value and allowing anyone registering for the event ...

  01-Apr-2021

The drive for effective decarbonisation – Daikin’s VRV R32 heat recovery solution

To drive the decarbonisation of buildings forward, new systems should reduce both the direct and indirect CO2eq impact. Daikin has focussed on maximising operational efficiency in real life conditions, minimising the impact. The new solution ...

  30-Jun-2022

If you need to open a solenoid valve manually, you need a SVOM!

"THE SMALL TOOL WITH A BIG ATTRACTION" Available from Refrigeration Wholesalers If you would like to become a distributor please contact sales@fridgenius.co.uk
  30-Jun-2022
ACR News is the number one magazine in the air conditioning and refrigeration industry. Don’t miss out, subscribe today!
Subcribe to ACR News

Diary

Chillventa