Who Owns Rheem?

Brothers Richard and Donald Rheem founded Rheem Manufacturing Company in Richmond, California in 1925. Their first products were galvanized steel drums, a metalworking business that gave the company fabrication skills it later applied to water heaters and furnaces. A 1931 acquisition of the John Wood Manufacturing Company moved Rheem into automatic gas storage water heaters, the product category that would define it for the next century.

Through the mid 20th century Rheem expanded into furnaces and air conditioners and began building a national network of plumbing and HVAC distributors. In 1959 the company bought the water heater business of Ruud Manufacturing Company, adding a second respected brand and a broader commercial product line. By the 1970s Rheem was a full line maker of residential heating and cooling equipment plus commercial water heating.

Japanese gas appliance maker Paloma Industries acquired Rheem in 1988, pairing Rheem's North American distribution with Paloma's gas heating technology. Under Paloma the company kept expanding: Raypak for pool and commercial water heating, Friedrich for room air conditioners, Eemax for tankless electric water heating, and international operations in Mexico, Australia and New Zealand.

The largest recent move came in October 2024, when Rheem acquired Nortek Global HVAC from Melrose Industries. The deal added the licensed Frigidaire and Maytag HVAC lines plus brands such as Gibson, Intertherm and Broan, and made Rheem the market leader in manufactured housing heating and cooling.

Rheem marked its 100th anniversary in 2025 with a brand refresh under the tagline "Engineered for Life," a record attendance Pro Partner contractor conference, and continued investment in heat pump and low emission product lines. In May 2026 the company partnered with Habitat for Humanity to supply HVAC and water heating systems for the Jimmy and Rosalynn Carter Work Project.