United States. Permira, a global private equity firm, recently announced that a company backed by Permira funds has signed a definitive agreement to acquire DiversiTech, from a subsidiary of The Jordan Company LP. As part of the transaction, the management team led by Jim Prescott, President and CEO, will remain important owners of the company.
Permira will leverage its global expertise in supporting value-added manufacturing and distribution companies to help DiversiTech expand its product offering and geographic presence, 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. "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 excellent customer service."
The transaction is subject to customary regulatory approvals and closing conditions and is expected to close in the second quarter of 2017.
