(Bloomberg) -- Private equity firm Permira is exploring a sale of DiversiTech, a maker of components used in heating, ventilating, air conditioning and refrigeration, according to people with knowledge of the matter.

The firm is working with an adviser to solicit interest in Atlanta-based DiversiTech, the people said. The company could fetch as much as $1.5 billion including debt, a person with knowledge of the matter said. It has at least $527 million in outstanding debt, according to data compiled by Bloomberg. 

A Permira spokesperson declined to comment. A representative of DiversiTech didn’t immediately respond to a request for comment.

Founded in 1971 and led by Chief Executive Officer Andy Bergdoll since 2018, DiversiTech was acquired by Permira in 2017. It has more than 1 million square feet of manufacturing and distribution space in the U.S., Canada and Europe and owns brands including Hilmor, Imperial, Quick-Sling and SpeedClean, its website shows.

A sale would mark the latest in a wave of exits by London-based Permira this year. The firm has taken Dr. Martens Plc and Exclusive Networks SA public, and is exploring options for Tricor Group and Genesys.

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