M&A Deal Summary

Daikin Acquires Goodman Global

On August 29, 2012, Daikin acquired manufacturer Goodman Global from Hellman & Friedman and The Carlyle Group for 3.7B USD

Acquisition Highlights
  • This is Daikin’s 1st transaction in the Manufacturing sector.
  • This is Daikin’s largest (disclosed) transaction.
  • This is Daikin’s 1st transaction in the United States.
  • This is Daikin’s 1st transaction in Texas.

M&A Deal Summary

Date 2012-08-29
Target Goodman Global
Sector Manufacturing
Buyer(s) Daikin
Sellers(s) Hellman & Friedman
The Carlyle Group
Deal Type Add-on Acquisition
Deal Value 3.7B USD
Advisor(s) Barclays Investment Bank
J.P. Morgan Securities (Financial)
Simpson Thacher & Bartlett (Legal)

Target

Goodman Global

Houston, Texas, United States
website
Goodman Global, Inc. is the largest domestic unit manufacturer of heating, ventilation and air conditioning products for residential and light-commercial use.

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Buyer(S) 1

Buyer

Daikin

Osaka, Japan

website


Category Company
Founded 1924
Sector Manufacturing
Employees88,698
Revenue 3,109.1B JPY (2022)
DESCRIPTION

Daikin is a leading innovator and provider of advanced, high-quality air conditioning solutions for residential, commercial, and industrial applications. Daikin was founded in 1924 and is based in Osaka, Japan.


DEAL STATS #
Overall 2 of 10
Sector (Manufacturing) 1 of 4
Type (Add-on Acquisition) 1 of 8
State (Texas) 1 of 1
Country (United States) 1 of 5
Year (2012) 1 of 1
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-08-26 Nippon Muki

Tokyo, Japan

Nippon Muki Co., Ltd. is a developer and manufacturer of air filters.

Buy ¥5.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-09 Flanders

Washington, North Carolina, United States

Flanders Corporation, together with its subsidiaries, engages in the design, manufacture, and sale of air filters and related products.

Buy $430M

Seller(S) 2

SELLER

Hellman & Friedman

San Francisco, California, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 50.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Hellman & Friedman (H&F) is a large private equity firm on the West Coast of the US. H&F focuses on control and minority investments in a variety of transaction structures and will consider opportunities across the US and Europe. H&F seeks buyouts and business in need of restructurings that operate in defensible markets with predictable revenue and earnings growth. Target sectors include financial services, healthcare, indusrial, energy, insurance, media, marketing, professional services, software, and information services. H&F's target equity investment size is $300 million to $1 billion. Hellman & Friedman was formed in 1984 and has offices in San Francisco, New York City, and London.


DEAL STATS #
Overall 32 of 59
Sector (Manufacturing) 1 of 1
Type (Add-on Acquisition) 7 of 13
State (Texas) 3 of 4
Country (United States) 24 of 43
Year (2012) 5 of 5
Size (of disclosed) 4 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-15 Getty Images

Seattle, Washington, United States

Getty Images offers a full range of content solutions to meet the needs of customers around the world. With a broad portfolio that includes the Getty Images, Stock, and Unsplash brands, the Company reaches and empowers a broad base of global customers ranging from international enterprises to amateur creators. Getty Images was formed in 1995 and is based in Seattle, Washington.

Sell $3.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-08-05 HUB International

Chicago, Illinois, United States

HUB International is a global insurance brokerage providing a broad array of property and casualty, life and health, employee benefits, investment and risk management products and services through offices located in the United States (including Puerto Rico), Canada and Brazil. HUB International was formed in 1998 and is based in Chicago, Illinois.

Buy $4.4B
SELLER

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1987
PE ASSETS 376.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 206 of 443
Sector (Manufacturing) 7 of 16
Type (Add-on Acquisition) 100 of 184
State (Texas) 23 of 35
Country (United States) 137 of 250
Year (2012) 18 of 29
Size (of disclosed) 3 of 130
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-29 Axalta

Glen Mills, Pennsylvania, United States

Axalta is a global manufacturer, marketer and distributor of advanced coating systems primarily for the transportation industry. The company comprises four segments: refinish, OEM, industrial liquid and powder. Axalta operates manufacturing sites on six continents, serving customers in 120 countries directly and through 4,000 distributors. Axalta Coating Systems was incorporated in 1866 and is based in Glen Mills, Pennsylvania.

Buy $4.9B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-03 Grupo Orguel

Pampulha, Brazil

Grupo Orguel was founded as a construction equipment distributor in the state of Minas Gerais. In the 70’s Orguel was the pioneer in construction machinery rental in Brazil and it has expanded to become one of the largest construction equipment manufacturer and equipment rental companies in Brazil, employing over 2,300 people. Grupo Orguel provides a full range of equipment, including scaffolding, shoring, concrete formworks, elevator lifts, aerial platforms, generators and electric tools, tapping several industries such as homebuilding, infrastructure, oil & gas and industrial construction.

Buy -