Partners Group Holding AG
said Wednesday it agreed to buy DiversiTech – a Georgia-based manufacturer and supplier of parts and accessories for heating, ventilation and air conditioning equipment – from Permira at an enterprise value of $2.2 billion. Permira and management will remain minority investors in the company, which was founded in 1971 and based near Atlanta. DiversiTech employs 1,250 people at 20 locations in the U.S., Canada and the U.K. Partners Group said it plans to accelerating new product development, expand through mergers and acquisitions and boost internal manufacturing capabilities. Partners Group managing director Andrew Oliver led the deal. Shares of Partners Group rose 0.7%.
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