Rheem Acquires Residential Boiler and Water Heater Manufacturer Intergas
On May 31, 2019, Rheem acquired Intergas of Coevorden, the Netherlands, 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.
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.”