Paloma Rheem completes Groupe Atlantic purchase
25th May 2026
JAPAN/FRANCE: Paloma Rheem Holdings (PRH) has completed its acquisition of a majority stake in Groupe Atlantic, the French HVAC equipment manufacturer.
PRH says that the closing of this transaction will enable it to leverage Groupe Atlantic’s strong business foundation in the European market. Groupe Atlantic includes amongst its portfolio of brands the UK heat pump manufacturers Ideal, Hamworthy, Keston and Clade.
Formed by the union of Japan’s Paloma Co Ltd and the US-based Rheem Manufacturing, Paloma Rheem Holdings is one of the world’s leading air and water companies, operating both air conditioning and water heating businesses, primarily engaged in the manufacturing and sales of air conditioning, water heating, heating, and kitchen equipment. In August 2025, PRH acquired General, formerly Fujitsu General.
The group now comprises four subsidiaries — Paloma, Rheem, General, and Groupe Atlantic — operating under the PRH holding company established in 2023.
It operates from 29 countries with a presence in over 100 countries, employing approximately 26,000 people across 43 manufacturing facilities and 25 research and development centres.
Founded in 1968, Groupe Atlantic is a privately held, family-owned business headquartered in France. Employing more than 12,000 people, the company sells more than 15 brands of HVAC and water heating products on four continents with a strong presence in France and the UK.
Groupe Atlantic will maintain its headquarters in France and will continue to operate as an independent subsidiary within PRH. Some of Groupe Atlantic’s long-standing family shareholders will retain minority stakes, and the current management team remains in place.
Commenting on Groupe Atlantic, president and representative director of PRH Hiroaki Kobayashi, commented: “A recognized leader in European air conditioning and water heating, they bring expertise and market presence that strengthen our collective capabilities. With Groupe Atlantic joining us — following the addition of General — we now have the foundation to bring innovative products, developed across each of our companies, to customers around the world.
“Drawing on our combined strength across both air conditioning and water heating, we will continue to drive the integration of air and water technologies and pursue sustained growth through innovation.”
Related stories:
Paloma takes majority stake in Groupe Atlantic – 22 December 2025
FRANCE: Paloma Rheem Holdings, the company behind the recent acquisition of Fujitsu’s air conditioning business, is now set to acquire a majority stake in French HVAC company Groupe Atlantic. Read more…
