DIF Capital Partners to acquire majority stake in Diverso Energy

• Founded in 2015, Diverso offers a geothermal heating and cooling solutions for multi-unit residential and commercial projects under an energy-as-a-service model with long-term contracts
• DIF Capital Partners will acquire a 75 percent interest directly from the company’s founders
• DIF is Dutch infrastructure fund manager

DIF Capital Partners has agreed to acquire a majority interest in Diverso Energy, a Toronto-based developer, owner and operator of geothermal energy systems in Canada. No financial details of the transaction were disclosed.

DIF will acquire a 75 percent interest directly from the company’s founders through its DIF Infrastructure VII fund.

Founded in 2015, Diverso offers a geothermal heating and cooling solutions for multi-unit residential and commercial projects under an energy-as-a-service model with long-term contracts. DIF’s investment will allow the company to continue its growth and execute on its growing pipeline of geothermal projects in Canada.

“Diverso provides a technical solution that is sustainable and significantly improves energy efficiency of buildings. We believe geothermal heating and cooling for residential and commercial properties will play an important role in the overall decarbonization of the Canadian economy” said Gijs Voskuyl, partner and head of infrastructure at DIF Capital Partners, in a statement. “This investment continues to build upon DIF’s long-standing build to core strategy and commitment to reducing greenhouse gases globally. We look forward to the partnership with the Diverso management team in expanding its presence as a leading Canadian geothermal company in an industry supported by strong regulatory tail winds.”

DIF is an infrastructure fund manager with about €16 billion ($17.44 billion) of assets under management. The firm, based in Schiphol, the Netherlands, manages mid-market investments primarily in Europe, North America and Australia.