Ironwood Partners has sold Stevens Equipment Supply to Daikin Industries
Ironwood Management Partners Fund II, LP (Ironwood Partners, LLC) has sold Stevens Equipment Supply, LLC to Daikin Industries, Ltd.
Established in 1960 and based in Eagan, Minnesota, Stevens is a leading independent wholesale distributor of HVAC and foodservice equipment, parts and accessories. Stevens is an authorized distributor for a portfolio of industry-leading HVAC manufacturers including Daikin, Goodman and Amana, and foodservice manufacturers such as Manitowoc and Kelvinator.
Daikin, with revenues of US$24 billion, is the world’s largest manufacturer of heating, cooling and refrigerant products. The company was founded in 1924 and is headquartered in Osaka, Japan.
Ironwood Partners is a middle-market private equity firm based in New York, primarily investing in the manufacturing and distribution sectors.
One of Oaklins’ teams in the USA served as the exclusive financial advisor to the seller in this transaction.
James K. Kelliher
Partner, Ironwood Partners, LLC
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