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Goodman Global

Goodman Global
Type Subsidiary
Industry HVAC
Founded San Antonio, Texas (1975 (1975))
Founders Harold Goodman
Headquarters Houston, Texas, US
Area served United States, Canada
Key people Peter Alexander
Revenue Increase $2.6 billion (2013))
Employees 5,000+
Parent Daikin
Website www.goodmanmfg.com

Goodman Global is an American company which manufactures commercial grade room air conditioners and specialty cooling products for residential and light commercial applications. The company operates under the Goodman, Amana and QuietFlex brands.

Goodman is owned by Daikin.

The company was founded in 1975 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 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.

In 1997, Goodman acquired 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.[1]

In 2004, Goodman was acquired by Apollo Management, a private equity firm for approximately $1.43 billion.[2] Just a year and a half later, in April 2006, Goodman completed an initial public offering, listing on the New York Stock Exchange.[3]

In October 2007, Goodman agreed to be acquired by Hellman & Friedman a San Francisco-based private equity firm in a $1.8 billion transaction.[4] In August 2012, Hellman & Friedman agreed to sell Goodman Global to Japan's Daikin Industries Ltd for $3.7 billion.

Goodman has recently added Whirlpool to its list of brand offerings. This move was made so Goodman Distribution can sell a product similar to the Amana brand in states where other distributors have exclusive rights to sell Amana.

References

  1. ^ MAYTAG GETS APPROVAL TO PURCHASE AMANA, A RIVAL. New York Times, July 14, 2001
  2. ^ APOLLO TO BUY HEATING AND AIR-CONDITIONING CONCERN . New York Times, November 20, 2004
  3. ^ Stock Offerings This Week. New York Times, April 3, 2006
  4. ^ 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)
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