Permira Funds to Acquire DiversiTech
Expanding product offerings and geographical footprint
NEW YORK — Permira announced that a company backed by the Permira funds has signed a definitive agreement to acquire DiversiTech from an affiliate of The Jordan Co. LP. As part of the transaction, the senior management team led by Jim Prescott, president and CEO, will remain significant owners of the company.
Founded in 1971, DiversiTech is a large consolidator of the HVACR aftermarket with a broad product offering in the space, including a wide range of must-have mechanical, electrical, chemical and structural parts, and accessories critical to HVACR and electrical technicians. With over 150 product categories, including a range of proprietary manufactured products, DiversiTech serves over 4,500 customers looking for a one-stop-shop solution to consolidate their purchasing and streamline supply channels.
Permira will draw on its significant global experience in backing value-added manufacturing and distribution companies to help DiversiTech expand its product offerings and geographical footprint, both organically and through acquisition opportunities.
“We are thrilled to partner with Permira as we continue to capitalize on our organic growth opportunities and significantly expand our business,” said Jim Prescott. “The Permira funds have an extensive track record of successful investments within the industrial space, and this transaction demonstrates Permira’s confidence in DiversiTech’s growth potential, engineering excellence and outstanding customer service.”
“DiversiTech has a well-earned reputation as the HVACR components leader, providing a critical role at the intersection of an industry that is marked by a highly diversified manufacturing base and technician end market. The company’s ability to offer the widest product offering of time sensitive components with the highest levels of customer service to wholesalers is unmatched,” said John Coyle, Permira partner. “We are excited to be backing the over 500 employees of DiversiTech as they build on the company’s scalable platform and expand its leadership positions.”
Prescott continued, "The Jordan Co. LP has been a transformational partner for DiversiTech over the last two years as we completed eight acquisitions while continuing to invest heavily in our internal operations and management talent. Their collaborative partnership approach truly helped us get to the next level."
The transaction is subject to customary regulatory approvals and closing conditions and is expected to close in the second quarter of 2017.
For more information, visit www.diversitech.com.
Publication date: 4/19/2017Energy Control Technologies Named An Authorized Distech Distributor For The State Of Florida DAVIE, Fla., April 10, 2017 /PRNewswire/ -- Energy Control Technologies, Inc. is proud to announce its new alliance and partnership with Distech Controls for distribution and promotion of its products, solutions and services. As an authorized distributor of Distech Controls, Energy Control will provide sales, application engineering, design and configuration, as well as technical support of its products and systems. Energy Control works to continuously improve every aspect of the customer experience. Providing facility managers and mechanical contractors a broad range of products and services responsible for building automation, energy management, HVAC systems and equipment, lighting controls, motors/drives, and air quality products, Energy Control is an ideal partner to grow Distech Controls' Florida business. Energy Control is also one of the largest controls system integrators in Florida, specializing in design and implementation of Distech based control systems. "As we strengthen our commitment to be an industry leader for energy management systems (EMS) for commercial and industrial buildings, we are very excited to be named as an authorized distributor. We have been a Distech partner for many years, and being named the distributor for the State of Florida confirms Distech's confidence in our ability to deliver and service their suite of products," said Randy Hafer, Chief Operating Officer of Energy Control Companies. "As a long-time Systems Integrator of Distech Controls Products and Solutions combined with Energy Control Technologies' infrastructure in Distribution made this a logical choice for Distech Controls. Energy Control Technologies has a proven track record as a building solutions distributor and a strong focus on solving problems related to customer needs," said Jon Cramer, Regional Sales, Distech Controls. "Energy Control Technologies shares our vision for delivering the best products and solutions available, meeting the current and future technology needs of building owners and contractors. We are excited about this expanded partnership and look forward to the growth this will bring in the markets they serve, especially around IP and IoT evolution." About Energy Control Companies Founded in 1978, Energy Control is comprised of three separate entities that provide a complete suite of products and services in the building automation and control market. Each of the companies specializes in a different area of building automation and control. Energy Control Technologies (ECT) www.energycontrol.com is the ecommerce outlet for the sale of building automation products; Energy Control Consultants, Inc. (ECCI) www.energycontrolconsultants.com is the installation and service specialist of building control systems; and sensorFact Services (SFS) www.sensorfact.com is the software platform which allows for secure management of sensor data collected building automation and other industrial systems. Offices are located in Davie, Tampa Bay and St. Petersburg, Florida. About Distech Controls An innovation leader in energy management solutions, Distech Controls www.distech-controls.com provides unique building management technologies and services that optimize energy efficiency and comfort in buildings, all the while reducing operating costs. Distech Controls was founded in 1995 by award-winning entrepreneur Etienne Veilleux. Headquartered in Montreal, Canada, the organization serves multiple market segments through its worldwide business divisions, service offices and a superior network of Authorized System Integrators and Distributors. Distech Controls is a subsidiary of Acuity Brands Lighting, Inc. SOURCE Energy Control Technologies, Inc. CONTACT: For more information on Energy Control Technologies and the Distech Distributorship, please contact AJ Phillips, 954.439.8318, firstname.lastname@example.org; Media Contact - Randy Hafer, Randyh@energycontrol.com, (m) 727.748.7068, (o) 954.739.8400 Web Site: http://www.energycontrol.com