Rheem parent finalizes acquisition of Fujitsu General

Rheem’s parent company, Paloma Rheem Holdings, on Friday announced that it has finalized its acquisition of Fujitsu’s HVAC business, Fujitsu General, over seven months after first announcing the deal in January. 

What’s happening: Fujitsu General has been taken private and delisted from the Tokyo Stock Exchange, marking the third major OEM acquisition within the past year. 

• The partnership will enable “more in-depth collaboration for sales of a wider range of [Fujitsu] products through [Rheem’s] extensive sales channels for air conditioners and water heaters in North America,” a January statement said. 

The big picture: Japan-based Paloma acquired Rheem in 1988, while Rheem and Fujitsu General have been collaborating since 2016, introducing their first joint product in 2020. 

What they’re saying: “By leveraging each company’s well-established sales infrastructure and service network, the combined group will be better positioned to deliver comprehensive solutions that… strengthen its presence in both the domestic and international air conditioning markets,” Paloma Rheem Holdings said in a statement.