Go to deals

Construction & Engineering Services | Private Equity

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 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

Related deals

Triscan has joined APA and Riverarch to accelerate growth in the European aftermarket

Private Equity | Automotive

Triscan has joined APA and Riverarch to accelerate growth in the European aftermarket

Triscan AS, a leading provider of OE-quality automotive spare parts for the professional aftermarket in Europe, has been acquired by APA Industries, LLC, a portfolio company of Riverarch Equity Partners.

Learn more

TEAM Safety Services Limited has been acquired by Vadella Group

Private Equity | Business Support Services

TEAM Safety Services Limited has been acquired by Vadella Group

TEAM Safety Services Limited, a leading UK-based health, safety and fire safety consultancy, has been acquired by Vadella Group, a specialist provider of inspection-led compliance services for the built environment.

Learn more

MEDIK Hospital Design Group has been acquired by STERIS

Construction & Engineering Services | Healthcare

MEDIK Hospital Design Group has been acquired by STERIS

The private shareholders of MEDIK Hospital Design Group have sold their shares to STERIS plc. Together, MEDIK and STERIS will expand their offerings for hospitals and ambulatory surgery centers worldwide. MEDIK’s solutions ideally complement STERIS’ existing portfolio, enabling the combined group to strengthen its position as a leading provider of turnkey room solutions in surgical and IPT environments. The MEDIK management team will actively support the next phase of growth.

Learn more