Businesses we own and hold permanently
PermaTech acquires excellent owner-led businesses and holds them indefinitely. No flips. No auctions. Just permanent ownership and genuine continuation.
Current Holdings
Tubman Heating Limited
Tubman Heating specialises in industrial and commercial boilers and burners. The company was founded in 1984 and PermaTech acquired it in 2024.
The acquisition was completed under PermaTech's stated permanent-ownership and decentralised operating model. Its experience does not guarantee the structure or outcome of another transaction.
At a glance
- Founded: 1984
- Acquired: 2024
- Employees: 45
- Sector: Industrial Heating
- Services: Commercial Services, Manufacturing
The acquisition was completed under PermaTech's stated permanent-ownership and decentralised operating model. Its experience does not guarantee the structure or outcome of another transaction.
Why we never sell
Financial sponsors use different fund structures, investment periods, governance, and liquidity assumptions. PermaTech is structured as a private holding company without a fund life or planned resale.
Our stated intention is permanent ownership with retained company identity and decentralised operations. Employee, customer, supplier, management, and community outcomes depend on the actual business and transaction and cannot be guaranteed indefinitely.
This is the Scandinavian holding company model, practiced by Lifco, Addtech, Lagercrantz, and Indutrade, brought to New Zealand and Australia. Buy excellent businesses. Treat them well. Never sell.
Own a business worth keeping?
If you're quietly wondering what comes next, not ready to call a broker, not ready to tell anyone, just thinking, we're a good first conversation. Confidential. No obligation. No process until you want one.