Paloma Rheem Holdings Co., Ltd. (Japan) has signed an agreement to acquire a majority stake in Groupe Atlantic, a French manufacturer of HVAC and water heating systems. The deal aims to strengthen both companies’ positions in a globally consolidating HVAC market.
Founded in 1968, Groupe Atlantic is a privately owned company with 12,000 employees and a portfolio of over 15 brands. Its operations span four continents, with strong market presence in France and the UK.
Groupe Atlantic has partnered for over 30 years with Fujitsu General, a subsidiary of Paloma Rheem, distributing air conditioning equipment in France. In 2022, the two firms launched a joint venture to manufacture Air-to-Water (ATW) systems locally.
Under the terms of the agreement, Groupe Atlantic will retain its headquarters in France and operate independently within the Paloma Rheem group. Some founding family shareholders will keep minority stakes, and the current management team will remain in place.
“We are honored that Groupe Atlantic has entrusted us to be stewards of their business,” said Hiroaki Kobayashi, President and Representative Director of PRH. “We are looking forward to expanding our reach by investing in the great talent at Groupe Atlantic.”
The transaction is pending regulatory approval and is expected to close in mid-2026.
