Paloma Rheem takes majority stake in Groupe Atlantic
France – Paloma Rheem Holdings has completed its acquisition of a majority stake in Groupe Atlantic, bringing the French HVAC and water heating manufacturer into a larger international group covering heating, cooling, ventilation and hot water.
The deal gives Paloma Rheem a much larger European platform, with Groupe Atlantic retaining its headquarters in France and continuing to operate as an independent subsidiary within the group. Its current management team will remain in place.
A larger global HVAC group
Paloma Rheem Holdings is active across air conditioning, heating and water heating. The group includes Paloma in Japan, Rheem in the United States and GENERAL, the former Fujitsu General business, which joined the group in August 2025 and was renamed GENERAL Inc. from January 2026.
The addition of Groupe Atlantic strengthens Paloma Rheem’s position across Europe. Groupe Atlantic’s brands include Atlantic, Ideal Heating, Thermor, Sauter and Austria Email.
Groupe Atlantic said the deal brings together complementary strengths across different regions, technologies and manufacturing operations, while supporting its long-term competitiveness and transition towards thermodynamic solutions.
This union is a tremendous development opportunity for Groupe Atlantic. In a context of increased international competition, Groupe Atlantic now has the means to strengthen its competitiveness while accelerating its transition to thermodynamic solutions
Damien Carroz, President of Groupe Atlantic
