Partners Group, a global private markets firm, announced strong growth at its two US HVAC portfolio companies, DiversiTech and PremiStar, as extreme weather conditions increase demand for cooling solutions. Since their acquisition in 2021, DiversiTech has seen revenues rise by 60%, while PremiStar's revenues have doubled. EBITDA growth has been equally impressive, with DiversiTech achieving a 14% CAGR and PremiStar a 22% CAGR.
The robust financial performance is attributed to several tailwinds in the US HVAC market. The increasing frequency of extreme weather events underscores the critical role of HVAC system maintenance in maximizing performance and efficiency. Additionally, the rapidly aging installed base of HVAC units, the push for energy-efficient upgrades, and the adoption of building automation solutions are driving sustained demand for both parts and services.
Partners Group has leveraged its investment platform to identify and implement best practices across both companies, focusing on transformational value creation plans. These initiatives include investments in operations, supply chains, and technology, as well as executing selective add-on acquisitions to bolster growth.
Wolf Scheider, Head of Private Equity at Partners Group, commented, "Across our HVAC portfolio, we are seeing organic, disciplined growth. As heat waves become a defining challenge of how we live and work, demand for HVAC parts and maintenance is rising. Our portfolio companies are essential to helping communities and enterprises adapt to these conditions, with meaningful growth runway ahead as value creation initiatives mature."
Partners Group is one of the largest firms in the global private markets industry, with around 2,000 professionals and over USD 186 billion in assets under management. The firm offers investment programs and custom mandates spanning private equity, private credit, infrastructure, real estate, royalties, and special opportunities. With its heritage in Switzerland and a primary presence in the Americas in Colorado, Partners Group employs an operationally oriented approach to identify attractive investment themes and transform businesses into market leaders. For more information, visit Partners Group's website.
