USA: HVAC equipment manufacturer Rheem is to acquire fellow US manufacturer Friedrich Air Conditioning.
Friedrich’s owners, the private investment firm Monomoy Capital Partners, confirmed today that it has entered into a definitive agreement to sell the company to Rheem.
Founded in 1883, Friedrich is a well-known manufacturer of room air conditioning, dehumidification and air purification products for residential and commercial applications. It is a recognised industry leader in high-end air conditioning solutions designed for single-room use in hotels and multi-family buildings. The company is based in San Antonio with manufacturing in Monterrey, Mexico, and distribution centres in Texas and New Jersey.
Rheem says the acquisition will expand its residential and commercial single-room AC solutions and has confirmed that Friedrich will continue as a standalone business unit within the Rheem Global Air business.