Plumbing and Mechanical

Goodman Sells HVAC Businesses To Private Investment Firm

February 1, 2005
The Goodman family completed the sale of its HVAC businesses to affiliates of Apollo Management, a New York-based private investment firm, for about $1.45 billion. Houston-based Goodman is the largest privately held air conditioning and heating equipment manufacturer in the United States, with brands Goodman(r), Amana(r) Heating and Air Conditioning, GmC(r), Janitrol(r) and QuietFlex(r).

Members of the Goodman family will retain a significant interest in the company. Goodman's senior management team will also acquire an interest. John B. Goodman will continue to serve on the board of directors, and the senior management team, led by President and CEO Charles A. Carroll, will continue to serve in their current capacities.