Bay Tree Private, a private equity firm, completed the acquisition of Hawco, a value-added distributors of HVAC/R, drinks dispense and vending machine components, from Diploma, a business supplying specialised technical products and services. Financial terms were not disclosed. “This is an incredibly exciting time and a huge opportunity for the business. Bay Tree’s capital and expertise will bring the tools needed to build further on the value-add services we offer and expand on the success of our international sales," Martin Butler, Hawco Managing Director.