Goodman Global: Difference between revisions
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==History== |
==History== |
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“We will revolutionize the Heating and Air Conditioning Industry with the highest-quality equipment, manufactured by the best-producing workforce and sold at the best prices in the market.” |
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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. |
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Harold Goodman, 1982 |
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In 1954, Harold V. Goodman, founder of Goodman Manufacturing Company, L.P., became an air conditioning contractor in the rapidly growing city of Houston,Texas. As the steamy Gulf Coast city grew, so did Harold’s business, and by the late 1960s, he was one of the most successful HVAC contractors in the United States. |
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In 1975, Harold entered HVAC manufacturing with the formation of Goodman Manufacturing Company, L.P. The company began as a maker of flexible air duct and plastic blade registers. As this business grew successfully, however, Harold turned his sights to building HVAC equipment, recognizing the industry’s need for a high-quality, low-cost producer of central air conditioning systems. As luck would have it, Harold learned that another HVAC manufacturer was closing its doors and selling off its manufacturing equipment. He quickly stepped in to purchase the shuttering company’s machinery, transported it to a large warehouse in Houston, and in 1982, Goodman entered the market as a manufacturer of central air conditioners and heat pumps. |
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From the beginning, Harold was dedicated to building HVAC equipment that performed reliably, lasted a long time and solved many of the problems contractors encountered in the design of other companies’ equipment. The philosophies he used to guide his company were simple: |
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High quality at low cost equals value |
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Maintain low overhead |
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Create products that are engineered for reliable long life, utilizing the best components with some of the lowest failures rates in the industry |
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Our belief of offering some of the best limited warranties in the marketplace. |
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These same principals guide Goodman today. We remain focused on providing high-quality products at an affordable price, and protecting them with what we believe to be some of the best warranties in the industry. This clear focus has led to Goodman’s being a leading unit manufacturer of residential and light commercial heating and air conditioning products and systems in North America. |
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Today Goodman is the value leader in HVAC products--all due to Harold Goodman's vision. |
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In the words of the Goodman brand's tagline, "Thank Goodness for Goodman." |
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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]]. <ref>[http://www.nytimes.com/2001/07/14/business/company-news-maytag-gets-approval-to-purchase-amana-a-rival.html MAYTAG GETS APPROVAL TO PURCHASE AMANA, A RIVAL]. New York Times, July 14, 2001</ref> |
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]]. <ref>[http://www.nytimes.com/2001/07/14/business/company-news-maytag-gets-approval-to-purchase-amana-a-rival.html MAYTAG GETS APPROVAL TO PURCHASE AMANA, A RIVAL]. New York Times, July 14, 2001</ref> |
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==External links== |
==External links== |
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*[http://www. |
*[http://www.goodmanmfg.com] (company website) |
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[[Category:Manufacturing companies based in Texas]] |
[[Category:Manufacturing companies based in Texas]] |
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Revision as of 19:58, 18 October 2010
| File:Goodman Global Logo.png | |
| Company type | Private |
|---|---|
| Industry | HVAC |
| Founded | San Antonio, Texas (1883) |
| Founder | Harold Goodman |
| Headquarters | Houston, Texas, US |
Area served | United States, Canada |
| Revenue |  $1.8 billion (2008)) |
Number of employees | 5,000+ |
| Parent | Hellman & Friedman, Apollo Management (prior) |
| Website | www.goodmanglobal.com |
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 Management.
The company was founded in 1975 and is based in Houston, Texas.
History
“We will revolutionize the Heating and Air Conditioning Industry with the highest-quality equipment, manufactured by the best-producing workforce and sold at the best prices in the market.”
Harold Goodman, 1982
In 1954, Harold V. Goodman, founder of Goodman Manufacturing Company, L.P., became an air conditioning contractor in the rapidly growing city of Houston,Texas. As the steamy Gulf Coast city grew, so did Harold’s business, and by the late 1960s, he was one of the most successful HVAC contractors in the United States.
In 1975, Harold entered HVAC manufacturing with the formation of Goodman Manufacturing Company, L.P. The company began as a maker of flexible air duct and plastic blade registers. As this business grew successfully, however, Harold turned his sights to building HVAC equipment, recognizing the industry’s need for a high-quality, low-cost producer of central air conditioning systems. As luck would have it, Harold learned that another HVAC manufacturer was closing its doors and selling off its manufacturing equipment. He quickly stepped in to purchase the shuttering company’s machinery, transported it to a large warehouse in Houston, and in 1982, Goodman entered the market as a manufacturer of central air conditioners and heat pumps.
From the beginning, Harold was dedicated to building HVAC equipment that performed reliably, lasted a long time and solved many of the problems contractors encountered in the design of other companies’ equipment. The philosophies he used to guide his company were simple:
High quality at low cost equals value Maintain low overhead Create products that are engineered for reliable long life, utilizing the best components with some of the lowest failures rates in the industry Our belief of offering some of the best limited warranties in the marketplace.
These same principals guide Goodman today. We remain focused on providing high-quality products at an affordable price, and protecting them with what we believe to be some of the best warranties in the industry. This clear focus has led to Goodman’s being a leading unit manufacturer of residential and light commercial heating and air conditioning products and systems in North America.
Today Goodman is the value leader in HVAC products--all due to Harold Goodman's vision.
In the words of the Goodman brand's tagline, "Thank Goodness for Goodman."
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. [1]
In 2004, Goodman was acquired by Apollo Management, a private equity firm for approximately $1.43 billion.[2] Just a year and a half later, in April 2006, Goodman completed an initial public offering, listing on the New York Stock Exchange.[3]
In October 2007, Goodman agreed to be acquired by Hellman & Friedman a San Francisco-based private equity firm in a $1.8 billion transaction.[4]. 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.
References
- ^ 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
- How Goodman Global’s Deal Got Done. New York Times, February 14, 2008
External links
- [1] (company website)