Daikin to acquire Goodman Global for $3.7 billion

Japanese HVAC company sees strategic advantages to acquisition of Houston-based company.

08/29/2012


Daikin Industries, Ltd. has agreed to acquire Goodman Global Group, Inc. from affiliates of Hellman and Friedman LLC for $3.7 billion.

Officials from both companies said the move would combine Daikin’s global, environmental, technological and commercial expertise with Goodman’s logistical, residential and light commercial expertise.

“Goodman is the best North American partner for Daikin as we aim to reinforce our position as the leading global HVAC manufacturer,” said Noriyuki Inoue, chairman and CEO of Daikin Industries, Ltd. “Goodman’s market leading ducted product offering and extensive distribution network in the largest HVAC market in the world is complementary to Daikin’s existing products and distribution channels.”

“The combination of the Daikin Group and Goodman is the next step in becoming the definitive leader in the global HVAC marketplace,” said David Swift, CEO of Goodman Global, Inc. “I am enthusiastic about our companies coming together to further satisfy the needs of our customers now and in the future. Because of the different complementary products and markets that our separate organizations serve, we do not expect any immediate organizational changes.”

Goodman has a significant presence in the ducted-style residential unitary HVAC segment in North America, a segment where Daikin has little offerings. Goodman generates strong financial performance through its low-cost U.S. manufacturing operations and extensive network of over 900 distribution points, of which 192 are company operated.  



No comments
Consulting-Specifying Engineer's Product of the Year (POY) contest is the premier award for new products in the HVAC, fire, electrical, and...
Consulting-Specifying Engineer magazine is dedicated to encouraging and recognizing the most talented young individuals...
The MEP Giants program lists the top mechanical, electrical, plumbing, and fire protection engineering firms in the United States.
Water use efficiency: Diminishing water quality, escalating costs; Lowering building energy use; Power for fire pumps
Building envelope and integration; Manufacturing industrial Q&A; NFPA 99; Testing fire systems
Labs and research facilities: Q&A with the experts; Water heating systems; Smart building integration; 40 Under 40 winners
Maintaining low data center PUE; Using eco mode in UPS systems; Commissioning electrical and power systems; Exploring dc power distribution alternatives
Protecting standby generators for mission critical facilities; Selecting energy-efficient transformers; Integrating power monitoring systems; Mitigating harmonics in electrical systems
Commissioning electrical systems in mission critical facilities; Anticipating the Smart Grid; Mitigating arc flash hazards in medium-voltage switchgear; Comparing generator sizing software
As brand protection manager for Eaton’s Electrical Sector, Tom Grace oversees counterfeit awareness...
Amara Rozgus is chief editor and content manager of Consulting-Specifier Engineer magazine.
IEEE power industry experts bring their combined experience in the electrical power industry...
Michael Heinsdorf, P.E., LEED AP, CDT is an Engineering Specification Writer at ARCOM MasterSpec.