• Latest from Commercial HVAC

    Pacific Northwest National Laboratory
    Photo 29759450 © Eldadcarin | Dreamstime.com
    Photo 138879981 © Tascha Rassadornyindee | Dreamstime.com
    iStock/GettyImages
    Gas Pipe Fittings
    Gas Pipe Fittings
    Gas Pipe Fittings
    Gas Pipe Fittings
    Gas Pipe Fittings

    Quiz: Gas Pipe Sizing

    Oct. 11, 2023
    Contractingbusiness 7944 Cb0417 Newsdiversitech
    Contractingbusiness 7944 Cb0417 Newsdiversitech
    Contractingbusiness 7944 Cb0417 Newsdiversitech
    Contractingbusiness 7944 Cb0417 Newsdiversitech
    Contractingbusiness 7944 Cb0417 Newsdiversitech

    Permira Funds to Acquire DiversiTech

    April 19, 2017
    The senior management team led by President and CEO Jim Prescott will remain significant owners of the company.
    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.

    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.