Goodman Global
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Goodman Manufacturing is an American company operating as an independent subsidiary of Daikin Group, the world's largest manufacturer of
heating, ventilation and air conditioning Heating, ventilation, and air conditioning (HVAC) is the use of various technologies to control the temperature, humidity, and purity of the air in an enclosed space. Its goal is to provide thermal comfort and acceptable indoor air quality. HV ...
products and systems. The company, founded in 1975 and based in
Waller, Texas Waller is a city in Texas, United States, partly in Waller County and partly in Harris County within the metropolitan area. The population was 2,682 at the 2020 U.S. census. The Waller area is located along U.S. Route 290 ( Northwest Freeway) ...
, manufactures residential heating and cooling systems. Goodman is located just outside
Houston,Texas Houston (; ) is the most populous city in Texas, the most populous city in the Southern United States, the fourth-most populous city in the United States, and the sixth-most populous city in North America, with a population of 2,304,580 i ...
, in the $417 million
Daikin Texas Technology Park The Daikin Goodman Texas Technology Park (initially called the Comfortplex) is a major factory and office building in Waller, Texas, United States near Houston. Opened in 2017 as the manufacturing, logistics, and engineering center for Daikin's ...
.


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 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, 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 The Maytag Corporation is an American home and commercial appliance company owned by Whirlpool Corporation since April 2006. Company history The Maytag Washing Machine Company was founded in 1893 by businessman Frederick Maytag. In 1925, ...
. In 2004, Goodman was acquired by
Apollo Management Apollo Global Management, Inc. is an American global private-equity firm. It provides investment management and invests in credit, private equity, and real assets. As of March 31, 2022, the company had $512 billion of assets under 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 Hellman & Friedman LLC (H&F) is an American private equity firm, founded in 1984 by Warren Hellman and Tully Friedman, that makes investments primarily through leveraged buyouts as well as growth capital investments. H&F has focused its efforts o ...
, 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 Daikin Industries Ltd. for $3.7 billion. In 2015, Daikin commenced construction of the state-of-the-art
Daikin Texas Technology Park The Daikin Goodman Texas Technology Park (initially called the Comfortplex) is a major factory and office building in Waller, Texas, United States near Houston. Opened in 2017 as the manufacturing, logistics, and engineering center for Daikin's ...
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 Property technology (also known as proptech, PropTech, prop-tech, and real estate technology) is used to refer to the application of information technology and platform economics to the real estate industry. Property technology overlaps with financ ...
(proptech) company Motili, to expand its HVAC market reach. In September 2019, the company closed a factory in
Fayetteville, Tennessee Fayetteville is a city and the county seat of Lincoln County, Tennessee, United States. The population was 6,994 at the 2000 census, and 6,827 at the 2010 census. A census estimate from 2018 showed 7,017. History Fayetteville is the largest cit ...
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