Rheem Manufacturing Company has acquired De Jong from Nordian Capital. Headquartered in Atlanta, Georgia, Rheem is America’s #1 water-heating brand with products available in more than 80 countries.
“Rheem and De Jong are aligned on many fronts, including our commitment to sustainability,” said Chris Peel, President and CEO at Rheem. “Together, we will continue to lead through innovation and develop products that reduce dependance on carbon fuel sources while expanding De Jong’s presence beyond Europe and North America.”
“In the past few years De Jong has seen tremendous growth fueled by market expansion and a higher demand for renewable systems requiring hot water tanks,” said Nordian Capital’s Perry Bos and Tijs Akkerman in a joint statement. “After Nordian invested in the organization, extended product development and increased production capacity, De Jong is now ready for the next step.”
“Several buyers expressed an interest,” the statement continued. “But it was clear from the very start that De Jong’s management felt Rheem offered the best opportunities for expanding offerings to customers. Nordian is proud of what we have achieved together with De Jong and we believe De Jong and Rheem have a bright future ahead.”
De Jong will operate as a stand-alone business unit within Rheem’s Global Water Division. Arno La Haye, Managing Director of De Jong, will continue in his leadership position.
“Our growth potential requires substantial investments that only a company like Rheem can make,” said La Haye. “Rheem brings us a true industrial partner who knows our business, has a strong market presence and makes strategic decisions based on long-term goals.”
“This partnership provides significant opportunity to support market expansion by pairing hot water storage tanks with sustainable energy sources, creating an integrated system that will appeal to our customers,” said Rich Bendure, President Rheem Global Water. “Together we will develop a category of products that provide value and meet the needs of our end users.”
About De Jong
De Jong is a leading, independent manufacturer and supplier of stainless-steel hot water tanks. Founded in 1859 and based in Gorredijk, the Netherlands, De Jong produces hot water tanks for multiple applications including solar, heat pump and boiler configurations.
See a recent video interview on the partnership between Nordian Capital and De Jong: https://nordian.nl/stories