Goodman Manufacturing is an American company operating as an independent subsidiary of

Daikin is a Japanese multinational air conditioning manufacturing company headquartered in Osaka. It has operations in Japan, China, Australia, the United States, India, Southeast Asia, Europe, the Middle East, Latin America, and Africa. Daikin is th ...

Group, the world's largest manufacturer of heating, ventilation and air conditioning products and systems. The company, founded in 1975 and based in Waller, Texas, manufactures residential heating and cooling systems. Goodman is located just outside Houston,Texas, in the $417 million Daikin Texas Technology Park.

History

Goodman Manufacturing was founded by HVAC dealer, Harold V. Goodman, in 1975 as a manufacturer of flexible air ducts and plastic blade registers. However, he turned his sights to fulfill a dream of manufacturing affordable HVAC equipment for households across the United States of America and beyond. In 1982, the company acquired Janitrol and entered the HVAC market, expanding its product offering in 1986 to include gas heating products. Harold V. Goodman died in 1996 and was succeeded by

Frank H. Murray Frank Hardart Murray (born 1953) is an American business executive. He is founder, president and chief executive officer of InterTech Media. In the 1990s, Murray was the chairman and CEO of Goodman Manufacturing Company and engineered Goodman's ...

who became chairman and CEO in April 1996. In 1997, Murray initiated and spearheaded the Goodman acquisition of Raytheon Appliances, the predecessor of

Amana Corporation The Amana Corporation is an American brand of household appliances. It was founded in 1934 by George Foerstner as The Electrical Equipment Co. in Middle Amana, Iowa, to manufacture commercial walk-in coolers. The business was later owned by the A ...

, 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. In 2004, Goodman was acquired by Apollo Management, a private equity firm, for approximately $1.43 billion. Just a year and a half later, in April 2006, Goodman completed an initial public offering, listing on the New York Stock Exchange. In October 2007, Goodman agreed to be acquired by Hellman & Friedman, a San Francisco-based private equity firm, in a $1.8 billion transaction. In August 2012, Hellman & Friedman agreed to sell Goodman Global to Japan's

Industries Ltd. for $3.7 billion. In 2015,

commenced construction of the state-of-the-art Daikin Texas Technology Park campus near Houston, Texas. This project, costing over $400 million, was the largest investment made in Daikin’s 90-year history. In October 2016, operations at the new facility ramped up and the first Goodman air conditioner and gas furnace units came off the line. In 2017, the construction of the huge facility concluded to consolidate Goodman’s HVAC manufacturing, engineering, logistics, and customer support under one, very large 4.1 million square foot roof. In 2017, Goodman acquired property technology (proptech) company Motili, to expand its HVAC market reach. In September 2019, the company closed a factory in Fayetteville, Tennessee and laid off about 700 workers. The closure of the factory is part of a long-term plan to relocate manufacturing jobs to a new industrial facility in Texas.

Brands

* Amana Heating and Cooling

References

External links

*{{Official website
UNbeaten Hepa Air PurifierHow Goodman Global’s Deal Got Done
Daikin Cooling technology Manufacturing companies established in 1975 Heating, ventilation, and air conditioning companies Manufacturing companies based in Houston Private equity portfolio companies Apollo Global Management companies 1975 establishments in Texas 2006 initial public offerings 2004 mergers and acquisitions 2007 mergers and acquisitions 2012 mergers and acquisitions American subsidiaries of foreign companies