Rheem® Acquires Tankless Water Heating Manufacturer Eemax™ Inc.
and WATERBURY, Conn. —Dec. 14, 2015–On Dec. 9, Rheem® acquired Eemax™
Inc., of Waterbury, Connecticut, from The Riverside Company, a private equity
firm. Eemax is recognized as the leading manufacturer of electric tankless
water heating solutions for residential, commercial and industrial applications
in the U.S. In addition to its Eemax-branded water heaters, the company
produces the EcoSmart™ line of tankless water heaters.
Rheem has long been a leading manufacturer of gas-fired tankless water
heaters, as well as energy efficient tank, solar and hybrid water heating
systems. Eemax, on the other hand, is the industry leader in producing
efficient electric tankless water heaters. The integration of Eemax into the
Rheem family not only increases the breadth of the Rheem water heating
portfolio, but it also gives Rheem customers access to best-in-class electric
tankless water heaters.
“Eemax’s offerings perfectly complement Rheem’s
line of efficient and advanced tank and tankless water heaters, and that is why
we are confident that this acquisition is the right opportunity at the right
time,” said Chris Peel, president and COO, Rheem. “Combined, we have the widest
selection of water heaters available from any one company in the Americas,
which means we can better serve our current customers, and it gives prospective
customers an even more compelling reason to do business with us.
Kevin Ruppelt, president and CEO, Eemax, added: “We are very
excited about the integration of Eemax into Rheem. Rheem understands our core
business and its leadership is committed to long-term growth plans for the
electric tankless category. We look forward to collaboratively developing new products, and expanding into
new markets and regions with Rheem in the future.”
Eemax will join Rheem’s Water Heating Division, which is based in
Montgomery, Alabama, and Eemax will operate as a wholly owned subsidiary of
Rheem. Eemax’s headquarters and manufacturing site will remain in Connecticut.
“Our Water Heating Division has had a momentous year—starting with the
successful redesign and re-launch of our product portfolio for the 2015 NAECA
regulation and continuing now with the acquisition of Eemax,” said Rich
Bendure, vice president and general manager, Rheem Water Heating Division. “We
are thrilled that such a stellar business will now be part of our Rheem
About Rheem (www.rheem.com)
in 1925, Rheem is the only manufacturer in the world that produces heating,
cooling, water heating, pool/spa heating and commercial refrigeration products.
Rheem is headquartered in Atlanta, and it has an international presence in 14
countries. The company’s premium brands include Rheem, Raypak, Ruud, Richmond
and Splendid, as well as commercial refrigeration brands Russell, Witt,
ColdZone and Kramer, which are part of the company’s Heat Transfer Products Group
(HTPG) division. To learn more, visit www.Rheem.com.
About Eemax (www.eemax.com)
Eemax is the top supplier of electric tankless water heaters in the United
States, as well as serving 30 additional countries worldwide through the
plumbing wholesale distribution channel and major retail outlets. Located in
Waterbury, Conn., Eemax’s patented green water heating technology has
revolutionized the industry by delivering a continuous supply of hot water at a
preset temperature with 99 percent energy efficiency. Visit www.eemax.com for