Rheem has acquired DEJONG, an independent manufacturer and supplier of stainless-steel hot water tanks, from Nordian Capital. Founded in 1859 and based in Gorredijk, the Netherlands, DEJONG produces hot water tanks for multiple applications including solar, heat pump and boiler configurations
A family-owned business founded in 1945, Giant markets its water heaters under the Giant brand and employs more than 300 people, primarily in Canada. Giant manufactures water heaters at two facilities in Montreal and sells water heating products across Canada. The addition of Giant to A. O. Smith’s existing water heater operations enlarges the company’s presence in the Canada water heater market, which is characterized by a high percentage of replacement demand.
Rinnai America announced the acquisition of Industrias MASS, a leader in the commercial water heater market in Mexico. This acquisition marks the first by Rinnai America Corporation and follows the launch of its Strategic Business Initiative announced earlier this year, meant to accelerate the company’s presence via acquisitions and partnerships.
Franklin Electric announced it has acquired New Aqua and its wholly owned subsidiaries, headquartered in Indianapolis, Indiana in an all-cash transaction valued at $150 million, subject to customary adjustments.
The Collins Companies, an industrial distributors of pipe, valves and fittings and engineered specialties serving the Northeast, announced its decision to fully acquire the assets of Niagara Controls in Buffalo, NY and consolidate the management with their Collins Niagara Division in Syracuse, NY. Joseph A. Clemente, who was the Managing Partner of Niagara Controls, will now provide direction and guidance to both of these Collins’ divisions.