A family-owned business founded in 1945, Giant markets its water heaters under the Giant brand and employs more than 300 people, primarily in Canada. Giant manufactures water heaters at two facilities in Montreal and sells water heating products across Canada. The addition of Giant to A. O. Smith’s existing water heater operations enlarges the company’s presence in the Canada water heater market, which is characterized by a high percentage of replacement demand.
The company, based in Sanford, Florida, employs 32 people and offers high-quality products and innovative, user-friendly software solutions for the design and operation of pressure boosting systems.
Rinnai America announced the acquisition of Industrias MASS, a leader in the commercial water heater market in Mexico. This acquisition marks the first by Rinnai America Corporation and follows the launch of its Strategic Business Initiative announced earlier this year, meant to accelerate the company’s presence via acquisitions and partnerships.
Franklin Electric announced it has acquired New Aqua and its wholly owned subsidiaries, headquartered in Indianapolis, Indiana in an all-cash transaction valued at $150 million, subject to customary adjustments.
The acquisition of Slant/Fin baseboard assets brings together a major business component of two family-run companies who have always focused on consistently manufacturing and delivering superior quality, solutions-based hydronic heating equipment to residential and commercial customers across North America.
