Daikin - M&A Summary and Business Overview

ManufacturingCompany

Daikin M&A Summary

Daikin has acquired 11 companies, including 4 in the last 5 years. A total of 6 acquisitions came from private equity firms.

Daikin’s largest acquisition to date was in 2012, when it acquired Goodman Global for $3.7B. Daikin has acquired in 5 different US states, and 5 countries. The Company’s most targeted sectors include machinery (40%) and manufacturing (40%).

Daikin Business Overview

Where is Daikin headquartered?

Daikin is headquartered in Osaka, Japan.

What is Daikin’s revenue?

Daikin disclosed revenue of 4,395,317M JPY for 2024 and 3,981,578M JPY for 2023.

How many employees does Daikin have?

Daikin has 98,162 employees.

What sector is Daikin in?

Daikin is a manufacturing company.

When was Daikin founded?

Daikin was founded in 1924.

M&A Summary

M&A Total Activity10
- M&A Buy Activity10
Total Sectors Invested 3
Total Countries Invested 5
M&A Buy/Sell Connections 8
M&A Advisors 2

Daikin

Daikin Industries, Ltd.

Umeda Center Building 2-4-12, Nakazaki-Nishi Kita-ku,
Osaka, 530-8323
Japan,
+81 6 6373 4312
www.daikin.com

Daikin is an innovator and provider of advanced, high-quality air conditioning solutions for residential, commercial, and industrial applications. Daikin was founded in 1924 and is based in Osaka, Japan.

M&A Summary

Buy vs Sell

Year		≤ '20	'21	'22	'23	'24	'25	T
Buy (0.6/yr)	#	7	-	3	-	-	-	10
Buy (0.6/yr)	vol	$5.3B		$248M				$5.5B
Sell (0.0/yr)	#	-	-	-	-	-	-	0
								10

Most Recent M&A

Company	Date	Value	Type
Duplomatic MS S.p.A	2022-04-28	248M EUR	Add-on Acquisition
Parabiago, Italy · www.duplomatic.com
ThermalNetics	2022-01-12	-	Add-on Acquisition
Auburn Hills, Michigan · www.thermalnetics.com
TriState HVAC	2022-01-12	-	Add-on Acquisition
West Conshohocken, Pennsylvania · www.tristatehvac.com
Stevens Equipment Supply LLC	2020-11-02	-	Add-on Acquisition
Eagan, Minnesota · www.stevensequipmentsupply.com
AHT Cooling Systems GmbH	2018-11-26	993M EUR	Add-on Acquisition
Rottenmann, Austria · www.aht.at
Daikin Air Conditioning Egypt S.A.E.	2016-08-10	-	Joint Venture
Cairo, Egypt · www.daikinegypt.com
Zanotti S.p.A.	2016-04-28	110M EUR	Add-on Acquisition
Pegognaga, Italy · www.zanotti.com
Flanders Corp.	2016-02-09	430M USD	Add-on Acquisition
Washington, North Carolina · www.flanderscorp.com
Goodman Global, Inc.	2012-08-29	3.7B USD	Add-on Acquisition
Houston, Texas · www.goodmanglobal.com
Nippon Muki Co., Ltd.	2009-08-26	41M JPY	Divestiture
Tokyo, Japan · www.nipponmuki.co.jp
View All >>

M&A by Sector

Sector	Buy #	Value	Sell #	Value
Machinery	4 (40%)	400M (7%)	-	-
Manufacturing	4 (40%)	5.1B (93%)	-	-
Distribution	2 (20%)	-	-	-
Total	10	$5.5B	-	-

By Geo

State/Country		Buy	Value	Sell	Value
United States		5	4.1B	-	-
	Texas	1	3.7B	-	-
	Pennsylvania	1	-	-	-
	North Carolina	1	430M	-	-
	Minnesota	1	-	-	-
	Michigan	1	-	-	-
Italy		2	358M	-	-
Austria		1	993M	-	-
Egypt		1	-	-	-
Japan		1	41M	-	-
Domestic		1 (10%)	41M (1%)	-	-
Cross-border		9 (90%)	5.5B (99%)	-	-
Total		10	$5.5B	-	-

Top M&A Advisors

Financial	Deals
BofA Securities	1

Legal	Deals
Davis Polk & Wardwell	1

Deal Values

buy	#	Total
> $1B	1	$3.7B
$100M to $1B	4	$1.8B
< $100M	1	$41M
TOTAL		$5.5B
Largest	Goodman Global, Inc. $3.7B (2012-08-29)

M&A Connections

		Deals
Acquired from
Investor(s)	50%	5 (50%)
Strategic(s)	10%	1 (10%)

Company Summary

SECTOR

Manufacturing

Revenue

4,395,317 11%	2024
3,981,578 29%	2023
3,109,106 25%	2022
2,493,386 3%	2021
2,550,305 3%	2020
2,481,109 9%	2019
2,290,560 13%	2018
2,043,968 1%	2017
2,043,691 7%	2016
1,915,013	2015
(millions of JPY)	Show More Show Less

Employees

98,162

Established

1924

Public

Tokyo (TSE): 6367

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Daikin - M&A Summary and Business Overview

ManufacturingCompany