Tokyo, May 22, 2026
Paloma Rheem Holdings Co., Ltd. ("PRH") today announced the completion of its acquisition of a majority stake in Groupe Atlantic, a France-based European leader in HVAC (Heating, Ventilation, and Air Conditioning) and water heating. The closing of this transaction enables PRH to leverage Groupe Atlantic's strong business foundation in the European market. With Paloma, General, Rheem, and Groupe Atlantic now collaborating as a group, PRH further solidifies its position as a global Air & Water leader — adding a strengthened European presence to its established footprint in North America and Asia.
Founded in 1968, Groupe Atlantic is a privately held, family-owned business headquartered in France. Employing more than 12,000 people, the company sells more than 15 brands of HVAC and water heating products on four continents with a strong presence in France and the United Kingdom. Groupe Atlantic has served as the distributor of air conditioning equipment in France for General, a PRH subsidiary, and the two companies have maintained a partnership for over 30 years.
Groupe Atlantic will maintain its headquarters in France and will continue to operate as an independent subsidiary within the PRH. Some of Groupe Atlantic's long-standing family shareholders will retain minority stakes, and the current management team remains in place to continue implementing their strategic and operational plan.
Hiroaki Kobayashi, President and Representative Director of PRH, commented: " We are delighted to welcome Groupe Atlantic to the PRH group. A recognized leader in European air conditioning and water heating, they bring expertise and market presence that strengthen our collective capabilities. With Groupe Atlantic joining us — following the addition of General — we now have the foundation to bring innovative products, developed across each of our companies, to customers around the world. Drawing on our combined strength across both air conditioning and water heating, we will continue to drive the integration of air and water technologies and pursue sustained growth through innovation.”
About Paloma Rheem Holdings
Paloma Rheem Holdings (PRH) is one of the world's leading air and water companies, operating both air conditioning and water heating businesses, primarily engaged in the manufacturing and sales of air conditioning, water heating, heating, and kitchen equipment. PRH is dedicated to developing and promoting air conditioning and water heating products that meet customer needs, positioning itself as an essential support company that underpins comfortable living worldwide.
Since acquiring Rheem in 1988 and entering the North American market, PRH has expanded steadily through strategic acquisitions in North America and Europe. In August 2025, PRH acquired General (formerly Fujitsu General), and in May 2026, completed the acquisition of a majority stake in Groupe Atlantic. The group now comprises four subsidiaries — Paloma, Rheem, General, and Groupe Atlantic — operating under the PRH holding company established in 2023.
The group operates from 29 countries with a presence in over 100 countries, employing approximately 26,000 people across 43 manufacturing facilities and 25 research and development centers. For the fiscal year 2025, group sales were approximately ¥1,180 billion and operating profit was around ¥125 billion. For more details, please visit: https://www.pr-holdings.co.jp/en/
About Groupe Atlantic
GROUPE ATLANTIC, originally from France and now one of the European leaders in the HVAC (Heating, Ventilation, and Air Conditioning) sector, is strongly committed to the low-carbon transition of buildings by improving the energy efficiency of its solutions and systems. GROUPE ATLANTIC has: 12,000 employees; nearly €3 billion in net sales; 31 industrial sites; a commercial presence on 4 continents; and a portfolio of more than 15 renowned brands (Atlantic, Ideal Heating, Thermor, Sauter, Austria-Email, etc.).
In accordance with its commitment to High well-being / Low carbon, GROUPE ATLANTIC advances thermal comfort to better meet the essential needs of well-being, health, and hygiene for millions of residential and commercial customers; and invests heavily in innovation to transform available energy into sustainable well-being through increasingly eco-efficient solutions that reduce conventional energy consumption and increase the share of renewable energy.
For more information, please visit: https://www.groupe-atlantic.fr/