Daikin Industries, Ltd, a global leader in commercial and industrial air conditioning, announced last week that it has completed the previously announced acquisition of Goodman Global Group, Inc.
The acquisition brings together recognized leaders in the global heating, ventilation and air conditioning (HVAC) marketplace. Combining the global, environmental, technological and commercial HVAC expertise of the Daikin Group with the logistical and manufacturing proficiency of Goodman will enable a level of success in the HVAC marketplace not possible as individual companies, stated a press release issued by Daikin.
Through this acquisition, Daikin will fully enter the ducted-style North American HVAC market. Daikin is a market leader in the delivery of high-technology, environmentally-friendly and energy-saving solutions to global residential and commercial HVAC customers.
To quickly align the synergies between the two groups, internal teams are being established to formulate and execute advanced action plans that will continue to facilitate growth that sustains both business expansion and a contribution to the environment through high-efficiency HVAC products and systems of the combined organizations.
The Goodman acquisition will be reflected in Daikin’s consolidated balance sheet for fiscal year 2012 and in the consolidated income statement for fiscal year 2013.
Daikin Industries, Ltd. (DIL) is a Fortune 1000 company with 2011 revenues in excess of ¥1218 billion and more than 44,000 employees worldwide, making it the number one commercial HVAC manufacturer in the world. Daikin is engaged primarily in the development, manufacture, sales and aftermarket support of heating, ventilation, air conditioning and refrigeration equipment, refrigerants and other chemicals, as well as oil hydraulic products. DIL is headquartered in Osaka, Japan, has manufacturing operations in 18 countries and a sales presence in more than 90 countries.
DIL’s North American HVAC operations are comprised of McQuay International, American Air Filter and Daikin AC Americas Inc.
Goodman’s headquarters is located in Houston, Texas and Goodman has several manufacturing locations in Texas and Tennessee. Quietflex® brand products are manufactured in Texas, Florida, Arizona and Pennsylvania. Total employees number over 4,500.
Goodman sells its products through a distribution network with more than 900 total distribution points comprised of both independent and company-operated distribution centers.
The company’s products are predominantly marketed under the Goodman® and Amana® brand names. Goodman® is one of the leading HVAC brands in North America and caters to the large segment of the market that desires reliable and value-based indoor climate comfort, while the company’s Amana® brand features premium performance. Amana is a registered trademark of Maytag Corporation or its related companies and is used under license to Goodman Company, L.P., Houston, TX, USA. All rights reserved. The Quietflex® brand offers flexible air duct solutions for the HVAC industry and residential applications.