Paloma Rheem to Acquire Majority Stake in Groupe Atlantic

Paloma Rheem's acquisition of a majority stake in Groupe Atlantic signals a notable shift in the HVAC landscape.

Paloma Rheem Holdings Co., Ltd. (“Paloma Rheem” or “PRH”) has announced an agreement to acquire a majority stake in Groupe Atlantic, a France-based European leader in HVAC (Heating, Ventilation, and Air Conditioning) and water heating. The transaction, expected to close mid-2026 subject to regulatory approvals, unites two companies with complementary geographic, technological, and industrial footprints.

Groupe Atlantic, a privately held, family-owned business established in 1968, will maintain its headquarters in France and operate independently within the Paloma Rheem group. Some family shareholders will retain minority stakes, with the current management team remaining in place.

Hiroaki Kobayashi, President and Representative Director of PRH, commented,

“We are honoured that Groupe Atlantic has entrusted us to be stewards of their business. Groupe Atlantic has impressed us with their leadership, strong culture, customer focus, and commitment to innovation in the European HVAC and water heating market. We are looking forward to expanding our reach by investing in the great talent at Groupe Atlantic”.

Groupe Atlantic employs 12,000 individuals and markets over 15 brands of HVAC and water heating products across four continents, with a strong presence in France and the United Kingdom. The two companies have an established relationship; Groupe Atlantic has served as Fujitsu General’s (a subsidiary of PRH) distributor for air conditioning equipment in France for over 30 years. Furthermore, in 2022, they established a joint venture to manufacture ATW (Air-to-Water) systems locally.

The acquisition strengthens Paloma Rheem's position through Groupe Atlantic's established networks.