Japan's Daikin To Buy 100% of Goodman for $3.7 billion
Originally published: 08.28.12 by HVACR Business Staff
Osaka, Japan-based Daikin Industries has agreed to acquire Goodman Global Group Inc. for U.S.$3.7 billion, a transaction that is expected to be final in the fourth quarter of this year pending regulatory approval.
Daikin, Goodman, and Goodman’s major shareholder, Hellman & Friedman LLC, have signed a definitive agreement today regarding the acquisition. Daikin will purchase 100% of Goodman’s stock.
Goodman is a market leader in the ducted residential 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.
Daikin is a comprehensive global HVAC manufacturer offering extensive products, including ductless air-conditioning and heat pump systems for residential and commercial applications, as well as large-sized HVAC systems for buildings and factories. Through this acquisition, Daikin will fully enter the ducted-style air-conditioning market for residential and commercial applications in North America. Daikin has more than 44,000 employees globally and operates manufacturing and sales activities in more than 90 countries.
Articles by HVACR Business Staff
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