Dec. 5, 2013: Rheem Acquires Heat Transfer Products Group
One of Rheem’s Immediate Goals Is to Reinvigorate the Brand
ATLANTA — Rheem announced that it has acquired Heat Transfer Products Group (HTPG), Scottsboro, Ala., from Monomoy Capital Partners. Rheem is a manufacturer of heating, cooling, water heating, and pool/spa heating products for residential and commercial applications. HTPG is a manufacturer of commercial refrigeration equipment for the foodservice, food retail, and other non-consumable markets.
“The acquisition is strategic for Rheem, and HTPG’s employees and customers will benefit from the partnership,” said JR Jones, president and CEO, Rheem. “Heat transfer technology is core to every product that both companies manufacture. Rheem and HTPG have the opportunity to combine an extensive knowledge of heat transfer technology to develop innovative new products.”