Partners Group, a global private markets firm, has acquired DiversiTech, a leading US manufacturer and supplier of HVAC parts and accessories. The acquisition, valued at $2.2 billion, marks Partners Group’s second investment in the HVAC sector this year. DiversiTech provides crucial parts and supplies to over 6,000 customers.
DiversiTech, founded in 1971 and headquartered near Atlanta, Georgia, boasts North America’s largest market share in HVAC equipment pads. The company offers a comprehensive portfolio of approximately 30,000 SKUs across six product families. These include HVAC equipment mounting, electrical and replacement parts, condensate management, and indoor air quality solutions. DiversiTech employs 1,250 people across 20 locations in the US, Canada, and the UK.
This acquisition follows Partners Group’s August 2021 purchase of Reedy Industries, a prominent commercial HVAC services provider in the US. Leveraging its extensive HVAC industry experience, Partners Group plans to collaborate with DiversiTech’s CEO, Andy Bergdoll, and his management team. Key strategies for growth include accelerating new product development, pursuing strategic mergers and acquisitions, and enhancing internal manufacturing capabilities.
Andrew Oliver, Managing Director, Private Equity Goods & Products at Partners Group, expressed confidence in DiversiTech’s growth potential, citing the expanding HVAC equipment installed base and the recurring demand for essential parts and supplies.
