On 31 May 2019, Rheem acquired Intergas through its group entity, Paloma Rheem Global Inc, adding the company to its Global Water Division, expanding its water heating and boiler portfolio in Europe and additional markets worldwide.
Intergas is a brand leader in the Netherlands for condensing boilers and its market share is growing rapidly in the UK; it also has fast-growing subsidiaries in Canada and the United States via its IBC brand.
Rheem’s head office is in Atlanta and, according to the company, is the only manufacturer in North America that produces heating, cooling, water heating, pool/spa heating, commercial boilers, and commercial refrigeration products.
“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.”
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 and the Intergas brand name will remain unchanged.
Speaking about the acquisition, Stephen Zouch, Managing Director, Intergas UK, said: “We are delighted to be joining Rheem at this very exciting time for our brand’s development in the UK. 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.”