Rheem recently announced it has acquired Waterbury, Conn.-based Eemax from The Riverside Co., a private-equity firm.
Rheem noted Eemax is recognized as the leading manufacturer of electric tankless water-heating solutions for residential, commercial and industrial applications in the U.S. In addition to its Eemax-branded water heaters, the company produces the EcoSmart line of tankless water heaters.
Rheem is a leading manufacturer of gas-fired tankless water heaters, as well as energy-efficient tank, solar and hybrid water-heating systems. The integration of Eemax into the Rheem family not only increases the breadth of the Rheem water heating portfolio, but also gives Rheem customers access to best-in-class electric tankless water heaters, the Atlanta-based company stated when announcing the acquisition.
“Eemax’s offerings perfectly complement Rheem’s line of efficient and advanced tank and tankless water heaters and that is why we are confident this acquisition is the right opportunity at the right time,” Rheem President and COO Chris Peel said. “Combined, we have the widest selection of water heaters available from any one company in the Americas, which means we can better serve our current customers. It gives prospective customers an even more compelling reason to do business with us.”
Kevin Ruppelt, president and CEO of Eemax, added: “We are very excited about the integration of Eemax into Rheem. Rheem understands our core business and its leadership is committed to long-term growth plans for the electric tankless category. We look forward to collaboratively developing new products, and expanding into new markets and regions with Rheem in the future.”
Eemax will join Rheem’s Water Heating Division based in Montgomery, Ala., and Eemax will operate as a wholly owned subsidiary of Rheem. Eemax’s headquarters and manufacturing site will remain in Connecticut.
“Our Water Heating Division has had a momentous year—starting with the successful redesign and relaunch of our product portfolio for the 2015 NAECA regulation and continuing now with the acquisition of Eemax,” said Rich Bendure, vice president and general manager of the Rheem Water Heating Division. “We are thrilled that such a stellar business will now be part of our Rheem family.”
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