Noritz Corporation (TSE:5943) signed a letter of intent to acquire PB Heat, LLC from Atlantic Shores Corporation for $47 million on December 11, 2018. Noritz Corporation signed an agreement to acquire PB Heat, LLC from Atlantic Shores Corporation on December 17, 2018. The Board of Directors of Noritz Corporation passed a resolution for the deal on December 11, 2018. Tyler Howard and Davis DeKorte of Stout Risius Ross Advisors, LLC acted as a financial adviser to PB Heat. Barley Snyder LLC acted as a legal adviser to Atlantic Shores. Takenaka Partners LLC acted as a financial adviser to Noritz. Noritz Corporation (TSE:5943) completed the acquisition of PB Heat, LLC from Atlantic Shores Corporation on January 7, 2019. PB Heat, LLC will operate separately and independently as subsidiaries of Noritz Corporation. PB Heat, LLC, will continue to be led by President and CEO Doug Shuff and his experienced management team, including Executive VP Pete Morgan, VP of Engineering Gary Hainley, Controller Dave Fuller, VP of Operations Barry Walsh, and VP of Marketing and Mid-Atlantic Sales Mike McDonnell.