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DIF Capital Partners acquires majority stake in Diverso Energy

Date Closed

May 4, 2023

Lead Office


On May 10, 2023, DIF Capital Partners (“DIF”) announced that it signed an agreement to acquire a majority interest in Diverso Energy Inc. (“Diverso”), a leading developer, owner, and operator of geothermal energy systems in Canada. DIF’s investment was executed through its DIF Infrastructure VII fund. DIF acquired a 75% interest directly from the founders who retain the remaining ownership and continue to lead the company.

Founded in 2015, Diverso offers a geothermal heating and cooling solutions for multi-unit residential and commercial projects under an Energy-as-a-Service (“EaaS”) model with long-term contracts. The acquisition will enable Diverso to continue its growth and execute on its growing pipeline of geothermal projects in Canada.

DIF Capital Partners is an independent infrastructure fund manager, with more than EUR 16 billion of AUM. DIF was founded in 2005 and has built a leading position in managing mid-market investments, primarily in Europe, North America and Australia.

McCarthy Tétrault advised DIF Capital Partners with a team led by Jeremy Pleasant that included Jonathan See, Conrad Lee, Hailey Schenker, Danyal Bajwa, Rebecca Summers, (Business), Raj Juneja, Kathryn Walker (Tax), Vincent Yip (Intellectual Property), Ben Aberant, Nicole Naglie (Labour & Employment), Deron Waldock, Julia Miller (Pensions, Benefits & Executive Compensation), Stephanie Sugar (Litigation), Ian Mak, Ailbish Bruchet, Kristin Dosen (Financial Services), Brad Nicpon, Sarit Pandya (Real Property and Planning), Oliver Borgers (Competition), Reena Goyal (Regulatory).