Duravent Group, a Detroit-based HVAC solutions provider, has secured an undisclosed “significant strategic growth investment” from Bain Capital, an investment firm in Boston.
Bain Capital says it will partner with Duravent’s leadership team, led by President and CEO Simon A. Davis, and Egeria, the company’s existing investor, to accelerate Duravent’s next phase of growth, deepen its category leadership, and expand its platform through both organic investments and strategic acquisitions.
Duravent traces its heritage to 1901 and operates 14 distinct brands in several locations across the United States, Canada, and Mexico. With what it refers to as world-class manufacturing capabilities and distribution networks, Duravent says it offers “high-quality products designed to meet the evolving needs of both residential and commercial applications.”
“This investment is a testament to the strength of our platform and the trust we have earned from customers as the leading provider of venting solutions that stand the test of time,” say Davis. “Bain Capital’s extensive industry expertise and operational capabilities make them the ideal partner to accelerate our next phase of growth.
“We have been fortunate to have an active, strategic investor in Egeria that has enabled us to build the Duravent Group into the business it is today. Adding Bain further enables us to execute our strategic vision focused on accelerating growth, strengthening our category leadership, and enhancing the differentiated value and service we provide to customers and channel partners.”
The investment was made by Bain Capital’s Special Situations team, which has experience investing and partnering to support the growth of industrials companies around the world.
“With a market-leading platform in the venting, filtration, and air quality industries and a more than 100-year legacy of engineering excellence, Duravent is renowned for delivering the most reliable, cutting-edge HVAC systems for homeowners, contractors, and industry professionals,” says Matt Evans, a partner at Bain Capital Special Situations. “Simon and his team have done an impressive job of deepening the company’s value proposition rooted in a customer-first mentality.
Chris Sun, a managing director at Bain Capital Special Situations, says, “We look forward to a collaborative partnership that builds on Duravent’s rich history of innovation and supporting the growth of the platform both organically and through strategic acquisitions while preserving its unwavering commitment to quality and safety.”
“We are excited to have Bain Capital join us in Duravent’s next chapter,” says Egbert Prenger, CEO of Egeria. “We see tremendous opportunity to combine our capabilities and resources to support Duravent’s continued expansion. This partnership is consistent with Egeria’s Evergreen investment approach to remain invested in companies over the long term and enable them to realize their full potential.”
For more information, visit duraventgroup.com.
