Written on: May 5, 2022 by ICM
Daikin Comfort Technologies North America, Inc., Waller, TX, has completed the acquisition of Hawthorne, NJ-based CCOM Group, Inc. and its wholly owned subsidiaries for $2.71 per share of common stock and convertible preferred stock.
Earlier in the year Daikin announced a unified strategy to leverage strengths from Goodman and Daikin brands to expand business under one unified vision and to promote environmental solutions in the North American market. In its strategic management plan, “FUSION 25,” Daikin has set its sights on becoming the top provider of HVAC solutions in North America. This acquisition will contribute to the success of both strategies in the Northeast.
CCOM’s subsidiaries, Universal Supply Group, Inc., RAL Supply Group, Inc., and S&A Supply, Inc., have shaped it into a leading, full line distributor of HVAC products, building management systems, plumbing and electrical supplies, and parts and accessories in the Northeastern U.S.
CCOM will continue to supply and promote the full line of residential unitary Goodman and Amana brand equipment, Daikin ductless and light commercial HVAC products as well as a diverse lineup of additional brands and products. This includes building management systems and controls, other HVAC, indoor air quality, hydronic, plumbing and electrical equipment and supplies throughout its 15 locations across New Jersey, New York and Massachusetts.
CCOM and its subsidiaries will operate as a wholly owned business unit of Daikin, while maintaining their headquarters in Hawthorne, NJ with more than 165 employees.