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.

Service

M&A sell-side

Parties

“This is the second successful portfolio company exit on which the team has advised us in the past three years. Their industry knowledge and deal expertise were evident throughout. What really made the team instrumental in closing with a large multinational buyer during the COVID-19 pandemic was their sensitivity to the many nuances of each party’s requirements and aspirations. This was one of the more complicated but ultimately satisfying transactions I have been a part of. The team executed it with thoughtful strategy, teamwork and poise. Each member of the team was exceptional. They worked together to drive the deal forward to completion, and there was always clear communication and consistent messaging to all parties. I highly recommend them to anyone considering selling a business, and look forward to working with them again in the future.”

James K. Kelliher

Partner, Ironwood Partners, LLC

Talk to the deal team

Steve Hunter

Managing Director

Atlanta, United States
Oaklins TM Capital

View profile Get in touch

James S. Grien

Managing Director

Atlanta, United States
Oaklins TM Capital

View profile Get in touch

Andy Krna

Managing Director

New York, United States
Oaklins TM Capital

View profile Get in touch

Tabb Neblett

Associate Director

Atlanta, United States
Oaklins TM Capital

View profile Get in touch

Patrick F. Pontani

Analyst

Atlanta, United States
Oaklins TM Capital

View profile Get in touch

Related deals

MT Højgaard Holding’s subsidiary Enemærke & Petersen has acquired Raunstrup

Construction & Engineering Services

MT Højgaard Holding’s subsidiary Enemærke & Petersen has acquired Raunstrup

MT Højgaard Holding A/S’ business unit Enemærke & Petersen (E&P) has entered into an agreement to acquire the nationwide construction and carpentry company Raunstrup A/S. This strategic acquisition will bolster E&P’s geographical position in Denmark and strengthen its activities within the building maintenance services sector. The Raunstrup brand will remain, and activities and daily management will continue unchanged under E&P’s ownership.

Learn more

Blue Equity is partnering with Bang & Beenfeldt

Private Equity | Construction & Engineering Services

Blue Equity is partnering with Bang & Beenfeldt

The private shareholders of Bang & Beenfeldt A/S have sold the company to Blue Equity, with a subsequent reinvestment in the new company.

Learn more

Oré Peinture has been acquired by Geveko Markings, the European leader in the road marking sector

Construction & Engineering Services | Industrial Machinery & Components

Oré Peinture has been acquired by Geveko Markings, the European leader in the road marking sector

Oré Peinture has been acquired by Geveko Markings AB. This is the biggest acquisition in Geveko Markings’ almost 100-year history and customers of the combined entity will benefit from an enhanced solutions offering and a broader product range.

Learn more