Noritz Corporation acquires PB Heat
Japanese tankless water heater maker Noritz Corp. acquired PB Heat, a manufacturer of high-efficiency, cast iron and stainless steel boilers and indirect-fired water heaters. PB Heat is based in Bally, Pennsylvania.
Noritz executives wrote in a letter to customers that no changes are planned for either PB Heat or Noritz America Corporation. Both companies are owned by Noritz Corporation, and they will operate separately and independently as subsidiaries.
PB Heat will continue to be led by Doug Shuff, president and CEO, and his management team, including Executive VP Pete Morgan, VP of Engineering Gary Hainley, Controller Dave Fuller, VP of Operations Barry Walsh, and VP of Marketing and Mid-Atlantic Sales Mike McDonnell.
Additionally, the PB Heat's Peerless brand will continue to be marketed and sold independently of Noritz’s branded products. Customers of PB Heat and the Peerless Brand will continue to be served by the same local sales representatives, Noritz executives wrote in the letter.