RHEEM ACQUIRES RESIDENTIAL BOILER AND WATER HEATER MANUFACTURER INTERGAS
2019-06-04
RHEEM ACQUIRES RESIDENTIAL BOILER AND WATER HEATER MANUFACTURER INTERGAS
Intergas joins Rheem’s Global Water Division, expanding its water heating and boiler portfolio for both residential and commercial applications to meet demands in Europe and additional markets worldwide
ATLANTA, GEORGIA AND COEVORDEN, THE NETHERLANDS – JUNE 4, 2019 – On May 31, 2019, Rheem acquired Intergas of Coevorden, the Netherland, through its group entity, Paloma Rheem Global, Inc. Intergas is a leading manufacturer of high-efficiency, residential gas boilers and water heaters. Renowned for its state-of-the-art boiler technology, Intergas leads the Dutch market for gas-fired condensing boilers and has fast-growing subsidiaries in the United Kingdom, as well as Canada and the United States via its IBC® brand.
Rheem is the only manufacturer in North America that produces heating, cooling, water heating, pool/spa heating, commercial boilers and commercial refrigeration products. Today, Rheem is America’s #1 water heating brand, and its products are available in more than 50 countries. Headquartered in Atlanta, the company’s portfolio of premium water brands include Rheem®, Raypak® Ruud®, Eemax®, EcoSmart®, Richmond®, Splendid®, Solahart® and EverHot™.
With the acquisition of Intergas, Rheem will obtain a first-class platform in the European heating and hot water market, which is the second largest in the world.
“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.”
Janno de Haas, CEO of Intergas, added, “We are very excited to join the Rheem family of brands. 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.”
About Rheem
Founded in 1925, Rheem innovates all-new ways to deliver just the right temperature while saving energy, water and supporting a more sustainable future. Today, Rheem is America’s #1 water heating brand, and its products are available in more than 50 countries. Paloma Co., Ltd.of Nagoya, Japan, acquired the iconic Rheem brand in 1988, and today the company’s portfolio of premium brands include Rheem®, Raypak®, Ruud®, Eemax®, Richmond®, Splendid®, Solahart®and EverHot™as well as commercial refrigeration brands Russell®, Witt®, ColdZone®and Kramer®, which are part of the Heat Transfer Products Group (HTPG®) division.
About Intergas
Founded in 1939, Intergas is a Dutch manufacturer of residential, high-efficiency gas boilers, with a 50-year history of making groundbreaking advances. The company’s innovative thinking led to the development of its two-in-one heat exchanger—the heart of its boiler products. Intergas pioneered this design in 1996, and even today, the feature remains in a class of its own. Intergas is the boiler market leader in the Netherlands, and it has a growing presence throughout Europe. Its products are also available in Canada and the United States via the IBC®brand.
###
