Oxford tankless water-heater maker Eemax Inc. will remain in Connecticut, choosing nearby Waterbury for an expansion of its plant-headquarters operations, authorities say.
Eemax Inc. announced it will relocate in November to a larger, 35,000-square-foot space at 400 Captain Neville Dr. in Waterbury that was the former home of Voltar Technologies Inc.
President and CEO Kevin Ruppelt said rapid demand for its high-efficiency electric water heaters prompted the expansion from its current, 17,000-square-foot Christian Street quarters in Oxford, whose lease expires this month.
Ruppelt and Waterbury city officials held a ceremonial groundbreaking Wednesday at the renovation site.
It will invest in new equipment, engineering test labs, training center, and hire more staff locally to accommodate an anticipated doubling in size over the next five years as the company launches a new line of tankless water heaters.
As previously reported, the company, which has close to 100 employees, wants to double its sales and employment totals over the next five to seven years. Eemax also is redesigning its product line, looking to create a competitive advantage.
Eemax said other unidentified states tired luring it with the promise of incentives and workforce development, but Waterbury and Connecticut matched its offers.
Eemax was founded in 1988 in Monroe and moved to Oxford in the mid-1990s. In September 2008, Eemax was acquired by New York private equity firm The Riverside Co. and since has ridden a wave of growth.
Sales at Eemax increased by a double-digit percentage annually since 2008, Ruppelt said. The company increased production, capacity, research and development and its hiring. To date, Eemax sold more than 1 million tankless hot water heaters, 99 percent outside of Connecticut to all 49 other states and 30 countries.
