Goodman Global
 | |
| Type | Private |
|---|---|
| Industry | HVAC |
| Founded | 1975 San Antonio, Texas, U.S. |
| Founder | Harold V. Goodman |
| Headquarters | Waller, Texas, U.S. |
Area served | United States, Canada |
Key people | Takeshi Ebisu (CEO) |
| Brands | Amana GMC Goodman Janitrol |
| Revenue |  $2.6 billion (2013) |
Number of employees | 5,000+ |
| Parent | Daikin |
| Website | www |
Goodman Manufacturing is an American company operating as an independent subsidiary [1][2] of Daikin Group, the world's largest manufacturer of heating, ventilation and air conditioning products and systems.[3]
Goodman is located in the $417 million Daikin Texas Technology Park.[4]
History
[edit]In 1982, the company acquired Janitrol and entered the HVAC market,[5] expanding its product offering in 1986 to include gas heating products.[citation needed]
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[6] 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 sold it to Maytag Corporation.[7]
In 2004, Goodman was acquired by Apollo Management, a private equity firm, for approximately $1.43 billion.[8] Just a year and a half later, in April 2006, Goodman completed an initial public offering, listing on the New York Stock Exchange.[9]
In October 2007, Goodman agreed to be acquired by Hellman & Friedman, a San Francisco-based private equity firm, in a $1.8 billion transaction.[10] 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 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.[11]
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.[12]
In 2017, Goodman acquired property technology (proptech) company Motili, to expand its HVAC market reach.[citation needed]
Daikin Industries acquired Goodman in August 2012.[13] Effective April 1, 2022, the company was renamed Daikin Comfort Technologies North America, Inc.[14]
In 2021, Goodman announced a recall involving plastic drain pans under the evaporator coils, as the pans could overheat, melt, and deform when installed on a condensing gas furnace in an upflow configuration. There were 23 incidents reported causing fire and smoke damage, however, no injuries were reported.[15][16][17] The recall was later expanded in 2024 to include evaporator coil drain pans installed with competitor brand non-condensing furnaces in an upflow configuration.[18]
Brands
[edit]References
[edit]- ↑ "StackPath". August 29, 2012.
- ↑ "Japan's Daikin to Buy U.S. Peer Goodman". Wall Street Journal. August 29, 2012.
- ↑ "History Behind The Growth | HVAC | Goodman Manufacturing". www.goodmanmfg.com. Retrieved April 16, 2020.
- ↑ "Daikin celebrates grand opening at new technology park". May 24, 2017.
- ↑ "Goodman Global Files For $500 Mln IPO". RTTNews. Retrieved February 4, 2025.
- ↑ Canedy, Dana (July 15, 1997). "Sale to Remove Raytheon from Consumer Appliances". The New York Times.
- ↑ 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
- ↑ "On outskirts of Houston, giant HVAC plant employs thousands". May 21, 2017.
- ↑ "Goodman Air Conditioning Project - ISC Constructors". www.iscgrp.com. April 29, 2022. Retrieved June 26, 2024.
- ↑ Osada, Yoshiyuki (August 29, 2012). "Daikin buys Goodman for $3.7 billion, gains North America reach". Reuters. Retrieved February 4, 2025.
- ↑ janete (March 28, 2022). "Goodman Renamed Daikin Comfort Technologies". Southern PHC. Retrieved February 4, 2025.
- ↑ Dugan, Kelli, Cox Media Group National Content (July 30, 2022). "Recall alert: Goodman Manufacturing recalls more than 300K furnace components amid fire reports". FOX13 Memphis. Fox News. Retrieved February 19, 2026.
{{cite web}}: CS1 maint: multiple names: authors list (link) - ↑ Dugan, Kelli (November 21, 2021). "Recall alert: Goodman Manufacturing recalls more than 300K furnace components amid fire reports". WFTV. Retrieved February 19, 2026.
- ↑ "Goodman Manufacturing Company Recalls Evaporator Coil Drain Pans Installed with Condensing Gas Furnaces Due to Fire Hazard". U.S. Consumer Product Safety Commission.
- ↑ "Daikin Comfort Technologies Manufacturing (formerly Goodman Manufacturing Company, L.P.) Expands Recall of Evaporator Coil Drain Pans to Include Those Installed with Non-Condensing Gas Furnaces Due to Fire Hazard". Division of Homeland Security and Emergency Services.
External links
[edit]
- Daikin
- Cooling technology
- Electronics companies established in 1975
- Heating, ventilation, and air conditioning companies
- Manufacturing companies based in Texas
- 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