Press Release Rheem Manufacturing - HTPG
ATLANTA, GEORGIA - Seale & Associates, Inc. ("Seale") announced that it acted as financial advisor to Rheem Manufacturing Company ("Rheem"), a leading designer and high quality manufacturer of heating, cooling, and water heating solutions, on its acquisition of Heat Transfer Products Group ("HTPG"), a manufacturer of heat transfer and refrigeration equipment.
Rheem, headquartered in Atlanta, Georgia, is an industry-leading provider of total heating, cooling and water heating solutions for the residential, commercial, and industrial markets. Rheem's wide range of product offerings includes heating, cooling, conventional and hybrid storage-style water heaters, tankless water heaters, solar water heating systems, hydronic and geothermal systems, indoor air quality accessories, and replacement parts for all categories. Rheem is a subsidiary of Paloma Industries of Nagoya, Japan, with over $3 billion in annual sales.
HTPG designs and manufactures heat transfer and refrigeration equipment under the premium brand names, Russell, Witt, Kramer, and ColdZone. HTPG is a leading supplier of refrigeration equipment through its broad offering of thermal management solutions, including components such as unit coolers, condensing units, air cooled condensers, fluid coolers, chillers, custom coils, and air handlers, as well as complete packaged systems.
Seale & Associates, Inc., headquartered in Arlington, Virginia, is a global investment banking firm with extensive experience in mergers and acquisitions, corporate finance advisory, and enterprise level strategy consulting. Our professionals are trusted advisors maintaining a high level of quality and integrity while presenting innovative ideas and solutions to address our clients' most complex dealings.