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Western
HVAC News
Permira Funds to Acquire DiversiTech.
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Global private equity firm Permira announced that a company
backed by the Permira funds has signed a definitive
agreement to acquire DiversiTech, an aftermarket
manufacturer and supplier of highly engineered components
for residential and light commercial HVAC and refrigeration
from an affiliate of The Jordan Co. As part of the
transaction, the senior management team led by Jim Prescott,
president and CEO, will remain significant owners of the
company.
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Founded in 1971,
DiversiTech is a consolidator of the HVACR aftermarket with a
broad product offering, including a wide range of mechanical,
electrical, chemical and structural parts and accessories
critical to HVACR and electrical technicians. With more than150
product categories, including a range of proprietary
manufactured products, the company serves more than 4,500
customers.
Permira will draw on its 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.
The transaction is subject to customary regulatory approvals and
closing conditions, and is expected to close in the second
quarter of 2017.
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