Rinnai America Corp. created a Strategic Business Development team to pursue acquisitions and partnership opportunities that expand its product offerings in new and existing categories.
The move was described as part of an aggressive growth strategy in North America, for the company known for its innovative water heaters.
“Rinnai Corporation, Rinnai America’s Japanese parent company, has identified the North American market as the growth vehicle for the global organization in the coming years,” said Frank Windsor, president, Rinnai America Corporation. “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.”
The company began its domestic manufacturing strategy in 2018 with the opening of a facility in Griffin, Ga. Later in the year, the company announced its new innovation department combining both engineering and product management. In 2020, Rinnai announced the opening of its new state-of-the-art Innovation Center of Excellence located in Peachtree City, Ga. Since then, Rinnai has continued to elevate its positioning with a groundbreaking for a new factory located on a 60-acre Greenfield site, also in Griffin, and scheduled to open later in 2021.
Rinnai’s Strategic Business Development team is pursuing opportunities to acquire or partner with organizations or technologies in similar or adjacent categories.
“Rinnai Corporation fully supports our initiatives and has committed the resources and financial support to help us achieve our vision for growth,” said Ray VanAssche, VP of Innovation, Rinnai America Corporation. “We anticipate and have planned a very aggressive innovation and technology expansion that hopes to propel the market forward.”
Elliott Willey, Rinnai America Corporation’s Senior Manager of Business Development is also bullish given trends in company markets, “Specifically, we are expanding our continued strength in vertical segments enabled by the anticipated rebound later this year, as well as expanded service offerings within our trade network coupled with increased consumer emphasis on comfort and health.”
Willey, VanAssche, and Perry McGuire, Rinnai America Corporation’s VP and General Counsel, make up the core Business Development Team.
Rinnai has developed several relationships with industry partners, consulting and advisory firms on a non-exclusive basis to assist with identifying and evaluating opportunities that fit the organization’s strategic mission.