Rheem has announced its intent to acquire Friedrich Air Conditioning from Monomoy Capital Partners, subject to regulatory approval.
“The Friedrich team is very excited to join the Rheem family of brands,” said Chuck Campbell, CEO of Friedrich Air Conditioning. “Our companies complement each other in many ways with our long legacies in the HVAC market, strong focus on customers and similar corporate cultures and values. Joining Rheem will allow us to increase that customer focus and to accelerate the development of more innovative products.”
Once the acquisition is finalized, Friedrich will continue as a stand-alone business with the same leadership team and operations, operating within Rheem’s Global Air Division.