M&A Deal Summary

Rheem Manufacturing Acquires De Jong

On January 14, 2022, Rheem Manufacturing acquired manufacturer De Jong from Nordian Capital Partners

Acquisition Highlights
  • This is Rheem Manufacturing’s 5th transaction in the Manufacturing sector.
  • This is Rheem Manufacturing’s 2nd transaction in the Netherlands.

M&A Deal Summary

Date 2022-01-14
Target De Jong
Sector Manufacturing
Buyer(s) Rheem Manufacturing
Sellers(s) Nordian Capital Partners
Deal Type Add-on Acquisition

Target

De Jong

Gorredijk, Netherlands
website
De Jong is a product engineering and manufacturer of stainless steel hot water tanks to buffer and heat sanitary hot water within central heating systems. De Jong is based in Gorredijk, the Netherlands.

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Buyer(S) 1

Buyer

Rheem Manufacturing

Atlanta, Georgia, United States

website


Category Company
Founded 1925
Sector Manufacturing
DESCRIPTION
Rheem air conditioner on display at a Home Depot store.
Rheem air conditioner on display at a Home Depot store.

Rheem manufactures a full-line of eco-friendly, technologically advanced residential and commercial heating and cooling systems; tank, tankless, solar and hybrid heat pump water heaters; whole-home standby generators, controls, swimming pool and spa heaters; indoor air-purification products; and commercial boilers throughout North America and world markets. The company’s premium brands, including Rheem, Raypak, Ruud and Richmond have been recognized with countless industry and consumer awards for reliability, innovative design and high quality.


DEAL STATS #
Overall 6 of 6
Sector (Manufacturing) 5 of 5
Type (Add-on Acquisition) 6 of 6
Country (Netherlands) 2 of 2
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-30 Friedrich Air Conditioning

San Antonio, Texas, United States

Friedrich Air Conditioning manufactures room air conditioning, dehumidification and air purification products for residential and commercial applications. Friedrich is among industry leaders in high-end air conditioning solutions for single room use in lodging, commercial and multi-family sectors. The company is based in San Antonio, Texas with manufacturing operations in Monterrey, Mexico and distribution centers in Texas and New Jersey.

Buy -

Seller(S) 1

SELLER
DESCRIPTION

Nordian Capital Partners is a private investment firm focused on acquiring majority stakes in Dutch companies. The Firm targets profitable (€3 to €15 million), growth-oriented companies and looks for situations where it can invest €10 to €50 million per transaction. Nordian does not have any sector preferences. Nordian Capital Partners was established in 2014 and is headquartered in Amsterdam.


DEAL STATS #
Overall 11 of 11
Sector (Manufacturing) 2 of 2
Type (Add-on Acquisition) 7 of 7
Country (Netherlands) 10 of 10
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-28 Alcomex

Noord-Holland, Netherlands

Alcomex is a manufacturer of door and industrial springs with a stable, diversified, and international customer base across various industries, such as residential overhead doors, industrial sectional doors, construction, fine mechanics, and aftermarket suspension. Alcomex was founded in 1992 and is based in Noord-Holland, Netherlands.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-11 MYLAPS

Haarlem, Netherlands

MYLAPS supports athletes, racers, and events to help clients manage their ultimate sport. The company records the performance of more than 20 million athletes worldwide each year. And, based on that data, MYLAPS creates forecasts, progress, and fun in time measurement. It will help them better understand the performance of their athletes and do their best in the next steps. MYLAPS was formed in 1982 and is based in Haarlem, Netherlands.

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