Rheem Announces Intent to Acquire Friedrich Air Conditioning
ATLANTA — Rheem has announced its intent to acquire Friedrich Air Conditioning, a 138-year-old manufacturer of premium air conditioning products, from Monomoy Capital Partners.
Friedrich is a manufacturer of room air conditioning, dehumidification, and air purification products for residential and commercial applications. It is a recognized manufacturer of high-end air conditioning solutions designed for single-room use in hotels and multifamily buildings.
Founded in 1883, the company is based in San Antonio with manufacturing in Monterrey, Mexico, and distribution centers in Texas and New Jersey.
“Friedrich has steadily innovated its residential and commercial offerings and grown its market share,” said Mike Branson, president, global air at Rheem. “They will bring a unique air conditioning product portfolio along with specialized products to the Rheem family of brands. Friedrich’s product offerings, company history, and industry expertise make this acquisition a perfect fit for Rheem. Together, we will harness the power of our talented workforce and enhance our ability to deliver reliable and energy-efficient products that our customers and contracting partners expect.”
Upon the close of the acquisition, which is subject to additional regulatory approval, Friedrich will be a stand-alone business unit within the Rheem Global Air business. For more information, visit www.rheem.com.
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