United States. Rheem has announced its intention to acquire Friedrich Air Conditioning, a 138-year-old manufacturer of air conditioning products, from Monomoy Capital Partners.
Friedrich is a manufacturer of air conditioning, dehumidification and air purification products for residential and commercial applications. It is an industry-recognized company in high-end air conditioning solutions designed for single-room use in hotels and multifamily buildings.
Founded in 1883, the company is headquartered in San Antonio with manufacturing in Monterrey, Mexico and distribution centers in Texas and New Jersey.
"Friedrich has consistently innovated its residential and commercial offerings and increased its market share," said Mike Branson, president of Global Air at Rheem. "They will bring a unique portfolio of air conditioning products along with specialty products to the Rheem family of brands. Friedrich's product offerings, company history and industry experience make this acquisition perfectly suited to Rheem. Together, we will harness the power of our talented workforce and enhance our ability to deliver reliable, energy-efficient products that our customers and contracting partners expect."
Upon closing of the acquisition, which is subject to additional regulatory approval, Friedrich will be an independent business unit within the Rheem Global Air business.
