Daikin Buys Goodman Global For $3.7 Billion

Japan's Daikin Industries has announced plans to buy Houston-based Goodman Global Group for $3.7 billion.

The purchase is expected to fortify Daikin’s status as the world’s biggest maker of residential heating, ventilating, and air conditioning, or HVAC, systems. Goodman, with 4,500 employees, is one of the largest independent HVAC manufacturers in the US.

Tracy Patch is a vice president with investment banking firm Capstone Partners.

“Prior to the acquisition, the Americas generated about 10% of Daikin’s revenue so the deal is an opportunity for Daikin to increase its business where they previously had little presence.”

Goodman president and CEO David Swift says the purchase will help his company expand its sales outside the US. The deal is expected to close in Goodman’s fourth quarter, subject to approval by regulators and shareholders.



Andrew Schneider

Andrew Schneider

Business Reporter

Andrew Schneider joined News 88.7 in January 2011. Since arriving in Houston, he has reported on the many changes wrought on the region’s economy by the revolution in domestic oil and gas production. His non-energy reporting runs the gamut from white-collar crime to cattle ranching. His work has aired on...

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