Rheem Acquires Residential Boiler and Water Heater Manufacturer Intergas
Acquisition expands helps meet demands in Europe and additional markets worldwide
ATLANTA —Rheem acquired Intergas of Coevorden, the Netherlands, through its group entity, Paloma Rheem Global, Inc.
With the acquisition of Intergas, Rheem will obtain a platform in the European heating and hot water market.
“We are very pleased to welcome Intergas as an important part of our Global Water Division,” said Chris Peel, president and CEO of Paloma Rheem Global, Inc. “The addition of Intergas into the Rheem family of brands increases the breadth of our boiler and water heating offerings, while also providing Rheem with competitive solutions to meet consumer demands in Europe. Both Rheem and Intergas also proudly foster cultures of inclusion, and our organizations have a shared commitment to innovating all-new products that create a meaningful and positive environmental impact.”
“We are very excited to join the Rheem family of brands,” Janno de Haas, CEO of Intergas, added. “Rheem understands our core business and its leadership is committed to long‐term growth plans for Intergas. We look forward to accelerating product innovations together with Rheem, and expanding into new markets and regions in the future.”
Intergas will join Rheem’s Global Water Division and operate as a wholly owned subsidiary of Paloma Rheem Global, Inc. Its headquarters will remain in Coevorden.
“The strong synergies in product offerings and complementary cultures make the joining of Rheem and Intergas a truly exciting—and monumental—collaboration,” said Rich Bendure, President of Rheem’s Global Water Division. “Combined, we now offer an extremely compelling and comprehensive water heating and boiler portfolio for both residential and commercial applications.”
Publication date: 6/11/2019