Goodman Global
Encyclopedia
Goodman Global is a privately held company
which manufactures commercial grade room air conditioners and specialty cooling products for residential and light commercial applications. The company operates under the Goodman, Amana and QuietFlex brands.
Goodman is owned by private equity firm Hellman & Friedman
and was previously controlled by Apollo Global Management.
The company was founded in 1975 and is based in Houston, Texas
.
In 1997, Goodman acquired 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.
In 2004, Goodman was acquired by Apollo 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
a San Francisco-based private equity firm in a $1.8 billion transaction.. The company is currently privately owned by Hellman & Friedman.
Goodman has recently added Whirlpool to its list of brand offerings. This move was made so Goodman Distribution can sell a product similar to the Amana brand in states where other distributers have exclusive rights to sell Amana.
Privately held company
A privately held company or close corporation is a business company owned either by non-governmental organizations or by a relatively small number of shareholders or company members which does not offer or trade its company stock to the general public on the stock market exchanges, but rather the...
which manufactures commercial grade room air conditioners and specialty cooling products for residential and light commercial applications. The company operates under the Goodman, Amana and QuietFlex brands.
Goodman is owned by private equity firm Hellman & Friedman
Hellman & Friedman
Hellman & Friedman is a private equity firm, founded in 1984 by Warren Hellman and Tully Friedman, that makes investments primarily through leveraged buyouts and minority growth capital investments....
and was previously controlled by Apollo Global Management.
The company was founded in 1975 and is based in Houston, Texas
Houston, Texas
Houston is the fourth-largest city in the United States, and the largest city in the state of Texas. According to the 2010 U.S. Census, the city had a population of 2.1 million people within an area of . Houston is the seat of Harris County and the economic center of , which is the ...
.
History
Goodman was founded in 1975 as a manufacturer of flexible air ducts and plastic blade registers. In 1982, the company acquired Janitrol and entered the HVAC market, expanding its product offering in 1986 to include gas heating products.In 1997, Goodman acquired Raytheon Appliances, the predecessor of Amana Corporation
Amana Corporation
The Amana Corporation is an American brand of household appliances. It was founded in 1934 by George Foerstner as The Electrical Equipment Co. in Middle Amana, Iowa to manufacture commercial walk-in coolers. The business was later owned by the Amana Society and became known as Amana Refrigeration,...
, 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.
In 2004, Goodman was acquired by Apollo 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
Hellman & Friedman is a private equity firm, founded in 1984 by Warren Hellman and Tully Friedman, that makes investments primarily through leveraged buyouts and minority growth capital investments....
a San Francisco-based private equity firm in a $1.8 billion transaction.. The company is currently privately owned by Hellman & Friedman.
Goodman has recently added Whirlpool to its list of brand offerings. This move was made so Goodman Distribution can sell a product similar to the Amana brand in states where other distributers have exclusive rights to sell Amana.