Nov. 22, 2004: Goodman To Be Acquired By Apollo Management
HOUSTON - Goodman Global Holdings Inc. and Apollo Management L.P. announced that they have signed definitive agreements under which Apollo will acquire Goodman for approximately $1.43 billion. Goodman Global Holdings is the parent of Goodman Manufacturing, the second-largest manufacturer of residential and light commercial heating and air conditioning products in the United States. Apollo is a major private investment firm.
"We are pleased to announce this important transaction with Apollo," said John B. Goodman, chairman of Goodman's board of directors. "We believe that our strong brand names and market-leading position, combined with Apollo's financial resources and extensive relationships, will further Goodman's position as a premier company in the heating, ventilation and air conditioning (HVAC) industry.