Stiebel Eltron was founded in 1924 by Dr. Theodor Stiebel in Berlin, Germany. Initially, the company concentrated on the manufacture of electric water heaters for the German market. In the decades that followed, Stiebel Eltron branched out into additional products and markets and grew steadily. Today, Stiebel Eltron is the largest manufacturer of water heaters in Germany. The company is known for high quality, well engineered products. Stiebel Eltron is a privately held company.