Partners Group Reports Robust Growth at US HVAC Portfolio Companies Amid Rising Cooling Demand

Partners Group, a global private markets firm, announced strong financial performance at its two US HVAC portfolio companies, DiversiTech and PremiStar, attributing the growth to increasing demand for cooling solutions amid extreme weather conditions. Since their acquisition in 2021, DiversiTech, a manufacturer and distributor of HVAC parts, has seen revenues rise by 60%, while PremiStar, a commercial HVAC services provider, has doubled its revenues. Both companies have delivered EBITDA growth of 14% and 22% CAGR, respectively.

The growth reflects broader tailwinds in the US HVAC market, including more frequent extreme weather events that underscore the importance of system maintenance for efficiency and performance. Additionally, the aging installed base of HVAC units, regulatory pushes for energy efficiency, and the adoption of building automation solutions are driving demand for both parts and services. These factors are expected to sustain long-term growth in the sector.

Partners Group has leveraged its operational expertise to implement value creation plans at both companies, focusing on investments in operations, supply chains, technology, and selective add-on acquisitions. 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."

The announcement highlights the strategic importance of HVAC infrastructure in the face of climate change, as well as the investment opportunities in companies that provide essential services and products for adaptation. Partners Group's success with DiversiTech and PremiStar demonstrates the potential for private equity to drive growth in sectors addressing critical societal needs.