Eversheds Sutherland advises Paloma Rheem on the acquisition of a majority stake in Group Atlantic

Paloma Rheem is one of the world’s leading groups across air conditioning and water heating, with ~19,000 employees and market leadership positions in North American HVAC and water heating in the US and Japan. Its portfolio (Rheem,  Intergas, Friedrich, among others) has been expanded through targeted M&A, most recently Fujitsu General (2025), deepening capabilities in ductless/VRF and APAC.

Group Atlantic is a leading European provider of heating, ventilation and air conditioning solutions, reporting €2.8bn net turnover (FY2024), ~11,780 employees and 33 industrial sites worldwide. The group operates a broad multi brand platform (including Atlantic, Thermor, Sauter, Ideal, ACV, Ygnis, Orcon) and is scaling heat pump capacity in France.

The acquisition is subject to the satisfaction of customary conditions precedent for this type of transaction.

Our team in Paris was led by Partner Franck Bourgeois with Counsel Raphael Sendowski and Associate Vladimir Legrand in Corporate/M&A.
Partner Christophe Sciot-Siegrist and Senior Associate Mélody Pagès-Marouani advised on real estate matters, Partner Caroline Lyannaz and Associate Mélanie Dubreuil-Blanchard on data privacy matters, Partner Manon Lamotte and Counsel Nicolas Etcheparre on employment law matters, Partner Dan Roskis and Counsel Thomas Strange on competition law, FDI and commercial contracts matters, Partner Philippe de Guyenro and Associate Léa Louvradoux on tax matters, Partner Sarah Monnerville Smith and Associate Margaux Barhoum on litigation matters. In London and Brussels, Partners Peter Harper and Marjolein de Backer and Senior Associate Julia Kampouridi advised on competition law, foreign subsidies regulatory matters and antitrust. 

The sellers were advised notably by Darrois Villey Maillot Brochier and De Pardieu Brocas Maffei. Atlantic Group was advised by Bredin Prat.