Private Equity-Backed HVAC Firm Hit With Monopolization Claims

A private equity-backed manufacturer of HVAC components was sued by a rival claiming the company excluded it from competition for a key product, causing it to lose market share.

DuraPlas LP alleged that DiversiTech Corp. “exploits its near-total chokehold on the market through the significant financial backing of its private equity sponsor,” in a complaint filed Monday in the US District Court for the Northern District of Texas. DiversiTech was acquired by Swiss private equity firm Partners Group Holding AG in 2021 in a transaction estimated at $2.2 billion.

The suit comes as federal agencies have increasingly scrutinized the role ...