Deal Details

DiversiTech Sold to Partners Group

Industrial

DiversiTech, a portfolio company of Permira, sale to Partners Group

Summary

DiversiTech Holdings, Inc. (“DiversiTech” or the “Company”), a portfolio company of Permira Advisors (“Permira”), recently announced its sale to Partners Group, acting on behalf of its clients, for $2.2 billion. The transaction is expected to close in December 2021, subject to customary closing conditions and regulatory approvals.

Baird served as financial advisor to DiversiTech Holdings, Inc. on this transaction.

About

DiversiTech is North America’s leading supplier of equipment pads, components and related products for multiple industries, including: HVAC/R, electrical, consumer hardware retail, electrical utility, automotive retail and pool and spa channel. DiversiTech’s mission for its wholesaler partners is to simplify their work by offering more than 200 product categories – all from a single manufacturing / supplier source – to create product availability and supply chain cost advantages for customers in every market served. DiversiTech’s mission for contractors is to simplify their work by offering high-quality, innovative and advanced products that save time on installations and headaches from unnecessary customer call-backs. Combining exceptional customer support with a full line of HVAC parts and accessories, DiversiTech provides contractors with the resources and tools they need to meet any of their customer needs. DiversiTech was founded in 1971 and is headquartered in Duluth, Georgia.

Permira is a global investment firm that backs successful businesses with growth ambitions. Founded in 1985, the firm advises funds with total committed capital of approximately $50 billion (€44 billion) and makes long-term majority and minority investments. The Permira funds have made over 250 private equity investments in four key sectors: Technology, Consumer, Services and Healthcare. The Permira funds have an extensive track record in tech investing, having invested $15.9 billion in 58 companies across enterprise cloud adoption, SaaS, fintech and online marketplaces. Permira employs over 350 people in 15 offices across Europe, North America and Asia.

Partners Group is a leading global private markets firm with over $119 billion in assets under management. Since 1996, the firm has invested over $150 billion in private equity, private real estate, private debt and private infrastructure on behalf of its clients globally. The firm employs more than 1,500 professionals across 20 offices worldwide and has regional headquarters in Baar-Zug, Switzerland; Denver, USA; and Singapore. It has been listed on the SIX Swiss Exchange since 2006 (symbol: PGHN).

Industrial

DiversiTech, a portfolio company of Permira, sale to Partners Group