There was a recent acquisition of a heating, ventilation, and air conditioning, HVAC, Company in California by the Goettl Air Conditioning. The company that was been acquired is called Walton’s Heating and Air. According to BizJournals, the financial details of this transaction were not disclosed but the acquisition favored both companies. The acquisition expands the market of Goettl in California. Goettl Air Conditioning, before the acquisition, was based on Las Vegas, Phoenix, and Tucson. Walton’s will also be able to grow beyond California and this was a dream come true for the owner, Longbrake.
At first, Longbrake was hesitant in the acquisition but he later gave in after hearing the positive news about Goettl in the market. This acquisition was finalized between the second and third quarter of 2015. Since the acquisition, sales and business have been booming for these companies. The owner of Walton’s still works at the company and holds the position of field supervisor and manager of sales. The acquisition completed in 2015 but it went public in 2017 because of operational and marketing hurdles at Walton’s that had to be resolved beforehand.
Goettl now has over 300 employees with a prediction of additional hiring. It is planning on expanding into the Northern part of California and Texas next year. Ken Goodrich, the founder, and owner of Goettl focused on the acquisition of Walton’s because he believed it had the potential to grow in the market. The market has increased its revenue by 9 million dollars between 2012 and 2014.
Goettl began in 1939 in Phoenix and developed the first refrigerated AC unit and an evaporative cooler. This earned them a good name in the industry and have since been the most trusted suppliers who adhere to technology in the HVAC industry. The Company values its customers and, therefore, makes sure that all their technicians are certified. The technicians also undergo in-depth background security checks and regular drug tests as well. Goettl is among the leading companies in the HVAC business.
According to azcentral, Goodrich began running the family business after his father died when he was 25years old. Goettl at the time was the only business that was willing to fund his family business in order to keep it running. Years later, he bought Goettl Air Conditioning as a way of retaining his father’s legacy. He has run it since then and is expanding the company’s markets and sales. You can follow their Facebook page to know more.