Stiebel Eltron, Inc. acquired Tankless Inc. of Sarasota, Fla., on Dec. 1.

Tankless was founded in 1982 and is a manufacturer of commercial and industrial three-phase electric tankless water heaters. Stiebel Eltron, founded in 1924 in Germany, has pioneered tankless electric water heating since its founding 93 years ago.