Partners Group Holding AG, on behalf of its clients, agreed to acquire a majority stake in DiversiTech Corporation from Permira VI L.P.1, managed by Permira Advisers Ltd. for an enterprise value of $2.2 billion.

Partners Group Holding AG (SWX:PGHN), on behalf of its clients, agreed to acquire a majority stake in DiversiTech Corporation from Permira VI L.P.1, managed by Permira Advisers Ltd. for an enterprise value of $2.2 billion on November 17, 2021. As part of the transaction, Permira and management will remain minority investors in DiversiTech. Partners Group and management will be the largest investors going forward, with the Permira funds maintaining an ownership stake.

Partners Group will partner with DiversiTech's management team, led by Chief Executive Officer Andy Bergdoll. Approximately 1,250 DiversiTech employees will also continue with the company. The transaction is subject to customary regulatory approvals and closing conditions and is expected to close in December 2021.

Barclays and Baird acted as financial advisors and Allison Schneirov, Jon Hlafter, Gavin White, Stephanie Teicher, Frederic Depoortere, Maria Raptis and Patrick Rideout of Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to Permira. Latham & Watkins LLP acted as legal advisor to Partners Group.