Rheem acquires water tank manufacturer
Rheem has acquired DEJONG, an independent manufacturer and supplier of stainless steel hot water tanks, from Nordian Capital. Founded in 1859 and based in Gorredijk, the Netherlands, DEJONG produces hot water tanks for multiple applications including solar, heat pump and boiler configurations.
“Rheem and DEJONG 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 dependence on carbon fuel sources while expanding DEJONG’s presence beyond Europe and North America.”
“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 provides value and meet the needs of our end users.”
DEJONG will operate as a standalone business unit within Rheem’s Global Water Division. Arno La Haye, managing director of DEJONG, will continue in his leadership position.
“Our growth potential requires substantial investments that only a company like Rheem can make,” La Haye said. “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.”
Oatey names new Nebraska, Iowa rep
Oatey Co. announced that Central Sales Inc. (CSI) is now Oatey’s manufacturers representative in Nebraska and Iowa. The change comes as a result of CSI’s recent acquisition of In Depth Marketing, effective Jan. 3. All In Depth Marketing employees have joined the CSI team.
Headquartered in Des Moines, Iowa, CSI was established in 2006 and has additional offices in Omaha and St. Louis. “We are greatly looking forward to representing Oatey Co. throughout our territory,” said George Scheppmann, President of CSI. “Oatey has an extraordinary reputation for quality and excellence, and we are committed to working hard every day on behalf of Oatey and its customers.”
“CSI is a leading manufacturers representative agency with a track record of driving growth and results for the manufacturers it serves,” said Patrick Aquino, vice president, wholesale plumbing sales at Oatey. “We are pleased to welcome them to the Oatey team and look forward to a successful partnership.”
Marcone acquires Munch’s Supply
Marcone, a distributor of home appliance, HVAC and plumbing repair parts and equipment across North America and current portfolio company of Genstar Capital, announced it has acquired Munch’s Supply, a distributor of HVAC equipment, parts and supplies from Ridgemont Equity Partners. Ridgemont and the Munch’s management team will retain a meaningful minority stake in the combined entity.
Jim Souers, CEO of Marcone, stated: “Munch’s has built a strategic partnership with the preeminent industry OEMs, offering the highest quality and most trusted brands in the market. Customers value their partnership with Munch’s, and we hope to build on the relationships they have established to offer additional products and services. As we further build Marcone as a partner serving the appliance, HVAC and plumbing sectors, I look forward to working with Bob Munch and his team to leverage the core tenets of Munch’s philosophy, including its reputation as an M&A acquirer of choice in the HVAC sector.”
Munch, chief executive of Munch’s, said: “We have built Munch’s over the decades into a one-stop-shop that ensures our customers have a consistent and trusted partner to access the industry’s most iconic brands, enabling them to perform critical installation, repair and service work with minimal downtime. Our growing eCommerce presence will also provide best-in-class technology capabilities and deliver seamless integration with our suppliers and customers. Munch’s local approach to serving the needs of suppliers, customers and employees is a strong cultural fit with Marcone, and we look forward to becoming part of their family and building Marcone’s HVAC service capabilities to broader geographies.”
Rob Rutledge, managing director at Genstar Capital, said: “Munch’s is a terrific business that fits squarely into Jim’s thesis of being the hub for parts and services to the home. We are excited to partner with Bob, Ridgemont and the Munch’s team to accelerate the growth of the platform, including through organic initiatives to better serve our combined customer base and continued M&A opportunities in the sizable HVAC and plumbing markets.”
Jack Purcell, managing partner at Ridgemont, added: “Alongside Bob and his team, we expanded the Munch’s platform into several new states, entered the Canadian market and significantly diversified the company’s product offering. Even years before our investment in Munch’s Supply, we admired the company’s legacy as a trusted partner to suppliers and customers at the local level, and we are very pleased to join forces with Genstar and Marcone, an industry leader in the appliance market with a great reputation as a solutions-oriented provider.”
Grundfos and Enaqua announce acquisition
Grundfos and Enaqua management announced the parties have signed an agreement for the Enaqua management team to acquire 100% of the shares of Enaqua. This transaction is expected to close within a short time. The acquisition represents a key opportunity for Enaqua management to leverage the company’s expertise to strengthen its technology portfolio focused on UV water treatment.
“This acquisition is an exciting step in our journey,” said Mark Wilke co-CEO of Enaqua. “This will allow us to continue to offer our customers the best available technology for their water treatment applications. We look forward to further strengthening our product portfolio and services with all our customers in mind.”
Rick McIntyre, co-CEO of Enaqua, further commented, “We are excited to (be able to) continue providing our customers with the state-of-the-art UV disinfection solutions that Enaqua has been known for throughout our long history.”
Enaqua holds experience in UV water treatment for municipal wastewater disinfection and process water treatment, including food and aquaculture as well as reuse applications.
“We have great respect for the Enaqua team, which has been doing a great job within its market,” Grundfos Group Vice President Tommy Due Høy said. “Enaqua has a proven track record in its niche focus market of UV water treatment solutions, and we believe that Enaqua will be able to better fulfill its potential under different ownership. We are pleased to have a buyer who will be able to nurture, strengthen and develop Enaqua.”
Until and after transaction closing, Enaqua will continue to maintain normal operations towards customers and suppliers.
ASC Engineered Systems acquires VEP
ASC Engineered Solutions (formerly Anvil & Smith-Cooper International), a producer and supplier of precision engineered pipe connections, valves, support solutions and related services, has acquired Value Engineered Products (VEP) of Denver, Colorado. VEP offers the plumbing, mechanical and industrial piping industries a series of insulated pipe supports designed to meet the broadest range of applications and piping material types, such as hot piping from 120° F to 1,200° F to cold piping from -250° F to 225° F.
Founded in 1990, VEP provides a patented shield product designed for all types of piping, as well as seismic applications, and has built its reputation on providing responsive customer service and innovative product design.
ASC Engineered Solutions’ CEO Jason Hild noted: “We are pleased to expand our breadth of hanger and support offerings to the PVF industry. This acquisition is very complementary and strengthens our organization’s ability to provide our customers with market-leading breadth and solutions to meet their needs. We are delighted to welcome Barry Schmidt and the entire VEP team to the ASC family.”
Manhattan Mechanical wins prestigious honor
Manhattan Mechanical Services recently was awarded the Three Rivers Manufacturers’ Association (TRMA) Gold Award for a second consecutive year.
TRMA, the leading manufacturing association in the Chicagoland area, focuses on promoting manufacturing excellence among its local, national and international members. The Joliet, Illinois-based group recognizes and awards industrial contractor companies that exhibit high-level safety practices at TRMA manufacturing plants. These companies achieve OSHA-recordable rates below the national average.
Manhattan Mechanical Services’ 2020-2021 total recordable incident rate, or TRIR, is zero at more than 1 million man-hours, according to corporate safety manager Nate Hassett, who adds, “At Manhattan Mechanical, deep-rooted safety culture is ingrained into each of our craftsmen. Keeping safety at the forefront of each project is the number one priority.”
Manhattan Mechanical Services prides itself as a low-overhead, high-productivity merit shop company that leads with safety and integrity, it explained. The company’s team of multi-skilled craftsmen offers services in industrial maintenance, process piping, structural steel, equipment installation, scaffolding and insulation. Providing its clients with highly skilled, multi-crafted professionals delivers labor-cost savings of up to 25%, with no sacrifice in efficiency or quality, the company stated.
