Paloma Rheem Holdings Completes Majority Stake Acquisition in Groupe Atlantic
- brg_news_room
- 4 days ago
- 1 min read
Japan: Paloma Rheem Holdings Co., Ltd. (PRH) has completed the acquisition of a majority stake in France-based HVAC and water heating manufacturer Groupe Atlantic. The transaction expands PRH’s presence in the European market and brings Groupe Atlantic into collaboration with other PRH group companies, including Paloma, General and Rheem. PRH stated that the acquisition strengthens its position across the air and water solutions sector, alongside its existing operations in North America and Asia.
Founded in 1968, Groupe Atlantic is a privately held family-owned company headquartered in France. The company employs more than 12,000 people and markets over 15 HVAC and water heating brands across four continents, with operations concentrated in France and the United Kingdom. Groupe Atlantic has also acted as the distributor of air conditioning equipment in France for General, a PRH subsidiary, for more than 30 years. Following the completion of the transaction, Groupe Atlantic will continue to operate as an independent subsidiary under PRH, while retaining its headquarters in France. Some existing family shareholders will continue to hold minority stakes, and the current management team will remain in place.
Source: Paloma Rheem Holdings Press Release
