Goodman Distribution Inc., a subsidiary of Daikin, entered into a definitive agreement to acquire Hawthorne-based CCOM Group Inc. and its wholly owned subsidiaries for $2.71 per share of common stock and convertible preferred stock, the companies announced March 18.
Goodman will change its name to Daikin Comfort Technologies Distribution Inc. on April 1. The transaction is expected to close in the first half of the year, subject to customary closing conditions, the companies said.
CCOM’s subsidiaries — Universal Supply Group Inc., RAL Supply Group Inc. and S&A Supply Inc. — are a full-line distributor of HVAC products, building management systems, plumbing and electrical supplies, and parts and accessories.
CCOM, with 15 locations across New Jersey, New York and Massachusetts, will continue to supply and promote the full line of residential unitary Goodman and Amana brand equipment and Daikin ductless and light commercial HVAC products, in addition to other brands and products.
Following the closing of the transaction, CCOM and its subsidiaries will operate as a wholly owned business unit of Goodman, while maintaining headquarters in Hawthorne, with more than 165 employees.
Gasiewicz
Inoue
“Combining our unique strengths as a multi-branded Technical Supply House with the largest HVAC manufacturer in the world is clearly the best way for us to deliver on our aggressive growth plans,” Pete Gasiewicz, CCOM chief executive officer, said in a statement. “This alignment solidifies our longstanding relationship and gives us the best opportunity to serve our contractors in a very competitive region.”
Takayuki “Taka” Inoue, Daikin executive vice president and chief sales and marketing officer, added, “I am incredibly excited to have CCOM and its companies join us on our journey to becoming North America’s clear leader in indoor comfort solutions.”
Daikin Industries Ltd. is an indoor comfort solutions provider. Daikin Comfort Technologies North America Inc., a subsidiary of DIL, and its affiliates manufacture heating and cooling systems for residential, commercial and industrial use. DNA engineering and manufacturing is located near Houston.
