M&A Deal Summary

Rheem Manufacturing Acquires Eemax

On December 14, 2015, Rheem Manufacturing acquired manufacturer Eemax from The Riverside Company

Acquisition Highlights
  • This is Rheem Manufacturing’s 2nd transaction in the Manufacturing sector.
  • This is Rheem Manufacturing’s 2nd transaction in the United States.
  • This is Rheem Manufacturing’s 1st transaction in Connecticut.

M&A Deal Summary

Date 2015-12-14
Target Eemax
Sector Manufacturing
Buyer(s) Rheem Manufacturing
Sellers(s) The Riverside Company
Deal Type Add-on Acquisition

Target

Eemax

Oxford, Connecticut, United States
Eemax, Inc. designs and builds electric tankless water heaters. Eemax?s products, known for their quality and reliability, provide limitless hot water and are considerably more efficient than traditional water heaters.

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Buyer(S) 1

Buyer

Rheem Manufacturing

Atlanta, Georgia, United States

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 3 of 6
Sector (Manufacturing) 2 of 5
Type (Add-on Acquisition) 3 of 6
State (Connecticut) 1 of 1
Country (United States) 2 of 3
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-30 CEM S.A.

Santiago, Chile

CEM S.A. manufactures and distributes tankless, solar and tank water heating products. CEM S.A. sells its products under the Splendid brand name throughout South America.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-04 Intergas Verwarming B.V.

Coevorden, Netherlands

Intergas Verwarming B.V. is a manufacturer of HR boilers. Intergas engages in Dutch boiler market, using its expertise to increase energy efficiency and reliability as well as reducing emissions and energy bills. Intergas is expanding both in Europe and North America, with growing subsidiaries in the United Kingdom, the USA, and Canada. Intergas Verwarming B.V. is based in Coevorden, Netherlands.

Buy -

Seller(S) 1

SELLER

The Riverside Company

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Riverside Company is a global private equity firm that seeks investments in profitable lower middle-market companies valued under $400 million. Riverside looks to invest in growth businesses headquartered in North America, Europe, and Asia (primarily Japan and South Korea), that have been in operation for at least five years. Riverside targets investments in a wide array of industries including distribution, automotive, healthcare, education, manufacturing, software, consumer services, plastics, publishing, food, communications, marine, and business services. Riverside was formed in 1988 and is based in New York City.


DEAL STATS #
Overall 106 of 191
Sector (Manufacturing) 12 of 14
Type (Add-on Acquisition) 43 of 82
State (Connecticut) 1 of 2
Country (United States) 78 of 133
Year (2015) 9 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-02 Brandmuscle

Chicago, Illinois, United States

Brandmuscle is a local marketing software company that enables brands to own the local decision point by empowering their network of local distributors, dealers, franchisees and salespeople with everything they need to deliver brand-approved marketing tactics customized to local needs, tastes and other relevant differences that can affect the sale. Brandmuscle was founded in 2000 and based in Chicago, Illinois.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-16 Marena

Lawrenceville, Georgia, United States

Marena is a manufacturer of medical-grade compression garments, shapewear, and activewear sold to plastic surgery centers, hospitals, medical providers, patients, and consumers.

Buy -