Already mounting an impressive streak of organic growth just south of Atlanta, Rinnai America Corp. is now on the hunt for acquisitions in the U.S. market.
Rinnai, which makes tankless hot water heaters and other gas appliances, last year opened a new innovation center alongside its headquarters in Peachtree City and is set to open a new factory on a 60-acre site in Griffin, where its first factory went live in 2018.
The subsidiary of Nagoya, Japan-based Rinnai Corp. sees opportunity with the economic recovery after the COVID-19-induced downtown, which executives believe has brought an enduring shift toward products that enhance health and comfort — what Rinnai calls “creating a healthier way of living.”
“While we have made significant investments in internal innovation capabilities and domestic manufacturing, we are also aggressively pursuing opportunities to expand through acquisitions of other organizations and technologies,” said Rinnai America President Frank Windsor.
The organization is seeking innovative partners in complementary industry sectors, said Ray VanAssche, the company’s vice president of innovation, who echoed Mr. Windsor’s language.
“We anticipate and have planned a very aggressive innovation and technology expansion that hopes to propel the market forward,” said Mr. VanAssche.
Rinnai America was founded in 1974. Rinnai Corp.’s global revenues topped $3.2 billion, and North America is seen as a key market for expansion.