The Jordan Company, L.P. has sold DiversiTech Corporation to Permira

The Jordan Company, L.P. has sold DiversiTech Corporation, North America’s leading manufacturer of a wide array of engineered aftermarket parts and components used in the repair, replacement and installation of residential HVACR systems, to Permira, a global private equity firm. Financial details have not been disclosed.

DiversiTech Corporation manufactures and supplies equipment pads and components, and related products for the heating, ventilating, air conditioning, and refrigeration (HVACR) industry. The company offers pads and equipment mounts, including lightweight concrete and plastic equipment pads, condensate management products such as condensate pumps, condensate drain line cleaning products, and condensate detection switches, maintenance chemicals, including coil cleaners, additives, and coil cleaning aerosols, and heating products such as hot surface igniters, ignition accessories, and vent termination kits.

Permira is a global private equity firm that invests in several sectors including consumer, financial services, healthcare, industrials and technology, and has approximately US$35 billion of committed capital. The firm was founded in 1985 and operated under the Schroder Ventures brand. After raising its first pan-European fund in 1997, the firm became Permira following a rebranding in 2001. Today Permira is an international investment firm with more than 200 people in 14 offices globally spanning Europe, North America and Asia.

The Jordan Company, L.P. is a private equity firm specializing in traditional leverage buyouts, recapitalizations, restructuring, public-to-private transactions, industry consolidation, and growth capital transactions of middle-market companies. The firm seeks to invest in a wide range of sectors with a focus on aerospace and defense, automotive aftermarket parts, building products, business services, contract research organizations, electric motors and controls, equipment rental, industrial safety and controls, chemicals, consumer products, distribution, education, energy, financial services, healthcare, industrial products and manufacturing, media and entertainment, insurance, metals, packaging, retail, transportation and logistics, and telecommunications.

One of Oaklins’ teams in the USA served as the exclusive financial advisor to the seller in this transaction.