Goodman Global
 | |
| Subsidiary | |
| Industry | HVAC |
| Founded | San Antonio, Texas (1975) |
| Founder | Harold Goodman |
| Headquarters | Houston, Texas, US |
Area served | United States, Canada |
Key people | Takeshi Ebisu (CEO) |
| Revenue |
 $2.6 billion (2013)) |
Number of employees | 5,000+ |
| Parent | Daikin |
| Website | www.goodmanmfg.com |
Goodman Global is a member of the Daikin Group, the world's largest manufacturer of HVAC products and systems. The company manufactures residential and light commercial heating and cooling systems.
The company was founded in 1982 and is based in Houston, Texas.
Goodman operates 4 major factories; two are located in Houston TX, one in Fayetteville TN and one in Dayton TN. Current major manufactured products are: residential split air conditioners and furnace, packaged terminal air conditioners, residential and light commercial packaged AC (rooftops), VRV/VRF systems and flex ducting.
History
Goodman was founded by Harold V. Goodman in 1975 as a manufacturer of flexible air ducts and plastic blade registers. In 1982, the company acquired Janitrol and entered the HVAC market, expanding its product offering in 1986 to include gas heating products.
Harold Goodman died in 1996 and was succeeded by Frank H. Murray who became chairman and CEO in April 1996.
In 1997, Murray initiated and spearheaded the Goodman acquisition of[1] Raytheon Appliances, the predecessor of Amana Corporation, a manufacturer of appliances and HVAC units. Four years later, in 2001, Goodman separated its appliances business from its HVAC business and would sell the appliances business to Maytag Corporation.[2]
In 2004, Goodman was acquired by Apollo Management, a private equity firm for approximately $1.43 billion.[3] Just a year and a half later, in April 2006, Goodman completed an initial public offering, listing on the New York Stock Exchange.[4]
In October 2007, Goodman agreed to be acquired by Hellman & Friedman a San Francisco-based private equity firm in a $1.8 billion transaction.[5] In August 2012, Hellman & Friedman agreed to sell Goodman Global to Japan's Daikin Industries Ltd for $3.7 billion.
References
- ↑ http://www.nytimes.com/1997/07/15/business/sale-to-remove-raytheon-from-consumer-appliances.html
- ↑ MAYTAG GETS APPROVAL TO PURCHASE AMANA, A RIVAL. New York Times, July 14, 2001
- ↑ APOLLO TO BUY HEATING AND AIR-CONDITIONING CONCERN . New York Times, November 20, 2004
- ↑ Stock Offerings This Week. New York Times, April 3, 2006
- ↑ Maker of Heating Systems Is Bought for $1.8 Billion. The Associated Press, October 23, 2007
- How Goodman Global’s Deal Got Done. New York Times, February 14, 2008
External links
- Goodman Manufacturing (company website)