Partners Group, a global private markets firm, has acquired DiversiTech, a manufacturer and supplier of parts and accessories for HVAC equipment. The investment puts DiversiTech at an enterprise value of $2.2 billion.

DiversiTech is a manufacturer of equipment pads and components and related products for multiple industries. The firm provides products and services for over 6,000 customers through a portfolio of products including HVAC equipment, electrical & replacement parts and more.

Partners Group will use its experience in HVAC along with Reedy Industries which it acquired in 2021, to partner with DiversiTech’s management team. The two firms will focus on product development, expanding through further M&A, and additional growth.

“As a result of investments in our team, product lines and infrastructure over the last five years, DiversiTech has a solid foundation and leading position in the North American HVAC parts & accessories market,” said Andy Bergdoll, CEO at DiversiTech. “We look forward to building on our multi-decade history of market-leading organic growth and taking the company to the next level under Partners Group’s ownership.”  

Latham & Watkins LLP represented Partners Group in the transaction.